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Strategies & Market Trends : Ride the Tiger with CD -- Ignore unavailable to you. Want to Upgrade?

To: Taikun who wrote (21135)11/21/2004 9:29:14 PM
From: rubbersoul  Respond to of 313730
 
You are probably right, Taikun. Let's hope that those in the industry such as John Embry can bring these "short comings" to the attention of those in the financial industry. Now if one wants to own paper gold without a guaranteed backing of the physical then that is their choice. I still don't know if this is the case but it appears so.

On a positive note, what I am hoping happens is that the ETF draws people into the gold sector and when investors realize that their shares might not be fully backed by the physical that they will want the real thing. Also, if the media decides to give the ETF issues some publicity then it might give gold an opportunity to be discussed by a wider audience. That would be a golden opportunity right?

Add the ETF to gold's wall of worry I guess for now.

John



To: Taikun who wrote (21135)11/21/2004 11:14:19 PM
From: Claude Cormier  Read Replies (1) | Respond to of 313730
 
<If they are buying paper gold this will hurt the gold market as long as they can play their game.>

They are not buying paper gold. They ae buying bars. But there is no way to audit the bar counts. This is troublesome when the chain of custody is not simple.


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