As this is still a relevant GLD issue, I will repost this here:
Why is there a clause in the GLD prospectus that states GLD has no right to audit subcustodial gold holdings? Why would the organizations behind GLD forfeit this right and create this massive audit loophole? I haven't heard of a single good reason for the existence of this loophole so far. In addition to the audit loophole, GLD claims to be fully backed by physical gold bullion but yet it refuses to give retail investors the right to redeem for any of these ‘claimed’ gold bullion. I also welcome everyone to verify the following for yourselves as I have:
"I remember CNBC's Bob Pisani visiting GLD's vault in a well documented segment. GLD's administration arranged this visit to disprove everyone claiming that GLD's gold did not exist. However, Mr. Pisani held up a gold bar with the following serial number - ZJ6752. This serial number did not appear on the most recent bar list during that time period. Cheviot Asset Management’s Ned Naylor-Leyland later found out that this "GLD" bar actually belonged to ETF Securities."
"Did anyone try calling the GLD hotline at 866▪320▪4053 in search of numerical details on GLD's insurance? The prospectus vaguely states "The Custodian maintains insurance with regard to its business on such terms and conditions as it considers appropriate which does not cover the full amount of gold held in custody." When I asked about how much of the gold was insured, the representative proceeded to act as if he didn't know and said they were just the "marketing agent" for GLD. What kind of marketing agent would not know such basic information about a product they are marketing? It seems like they are deliberately hiding information from investors."
S&P Nears Critical Support Level, Small Caps Underwater Year-To-Date
The S&P 500 has dropped to its 100-day moving-average support (2417) for the first time since the election as the usual dip-buyers are absent amid heavy volume. Small Caps have suffered worse, now in the red for 2017 as Gold leads The Dow and bonds y
a huge call buy order today in GLD...20,000 contracts of the 144 strike Sept 21 2018 exp
Triple bottom. Buy.
Goldman is selling off again today you know what that means for gold don't you ?
this will continue to go up until we turn north Korea into a parking lot
GLD should be 116-118 next week.
1300 today i predict as fed blinks and bellweather walmart misses huge on gaap earnings... Walmart Q2 FY18 GAAP EPS of $0.96; <<<< NON GAAP Adjusted EPS of $1.08
watch it go...
Gold headed higher for a few weeks as markets tank. Just be careful - in the event of a market flash crash, that will set the high for GLD and that's the time to take the profits.
Rise of the Nazi Party 1 4 - Night of the Long Knives
Threats of a Nuke, had a hard time moving the Gold needle. If one went off....you wouldn't collect anyhow...so for what stupid reason would you bug any of the PMs. It is not a rational decision and has not been one for a decade. Short here and make some money.
Only thing getting Nuked is the PMs. Short it.
GOLD Is poised to EXPLODE as I told you this AM ! Banks are trying to hold it down but a very HUGE REVERSAL is imminent ! I know what I am talking about as does mr DALIO ! these banks are going to lose it ! 1300 is coming !!!!!!!
If you are investing to make $, why would you not buy Bitcoin. Today it is up ~15%. Gold continues to be a losing investment for over 10 years.
Gold hitting a new daily high poised to breach 1300 !! Ray Dalio was right !
Anyone have any thoughts to why GLD Short numbers increased 5 million shares ? or by 62 % This is a HUGE Increase.
Oh you poor bass yards. I see you have that CLOWN Debra here...
Th PMs will never spike and so all other investments will have steeper gains. Meaning, this relative to everything else is a loser.