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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG
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To: Wade who wrote (6240)11/6/2006 8:30:12 PM
From: aknahow  Read Replies (1) of 48092
 
It is the real deal, just as you posted. But as a reminder, GLD neither buys nor sell gold. It only holds gold for authorized participants. The participants need not care about the prospects for gold either. They are in the great business of earning a spread by selling gold shares short, when at a sufficient premium to their value in spot gold and covering the shares sold short by delivering the gold. Then they exchange shares when they sell for sufficiently less than the value of the gold which they receive for deliverance of the shares.

True, no one cares about all this. But I do. So I continue to re post this rant, whenever moved to do so. <g>
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