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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 389.05+0.4%Dec 10 4:00 PM EST
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To: Taikun who wrote (28186)1/23/2008 9:13:30 PM
From: aknahow  Read Replies (2) of 218353
 
When physical gold sells at a premium to GLD ETF shares the authorized participants do not buy physical gold they sell it and buy shares.

Also shares do not represent 1/10 of an oz. of gold. Each month a small amount of physical is sold to cover storage cost.

The manipulators are those that spread false rumors about GLD ETF in a failing attempt to maintain their own high markups on the purchase and sale of physical.

BTW today GLD ETF took delivery of about 8 tons of physical as shares were sold by authorized participants and physical purchased and delivered to cover the shares that were sold short.

22 Jan 2008 20,022,387.02 622.76 17,515,151,272.89

23 Jan 2008 20,269,268.77 630.44 17,999,545,761.15
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