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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: Square_Dealings who wrote (27078)	2/23/2005 9:20:35 PM
From: ild	Read Replies (3) of 110194

<<<guys take in the money which is supposed to be converted to bullion and then they dont buy any bullion for a month. >>> This is not how GLD works. GLD doesn't buy or sell bullion. GLD creates new shares in exchange for delivery of physical gold. When shares are redeemed GLD distributes physical gold. GLD only cares about POG when it sells a little of physical gold to cover expenses. Otherwise POG is irrelevant as GLD exchanges new shares for gold and gold for redeemed shares.

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