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Gold/Mining/Energy : Gold & Gold Stock Analysis -- Ignore unavailable to you. Want to Upgrade?

To: The Vet who wrote (12156)	2/23/2008 6:49:16 PM
From: Wade	Respond to of 29622

You are right, there is no fixed number of shares for GLD. <G>

To: The Vet who wrote (12156)	2/24/2008 8:02:06 AM
From: tyc:>	Read Replies (1) \| Respond to of 29622

You ask for a refutation. I'll try.... Anyone who shorts GLD or GOLD is simply betting that CASH (aka the US$) will outperform gold. What you say about a supposed limitless supply of GLD shares is more certainly true of CASH. "With GLD as soon as the price rises above spot the APs step in and sell stock and buy gold limiting the rise of the stock to the rise in the POG" Note that the arbs must buy GOLD... the supply of this commodity is not unlimited as fiat CASH is. The rise in the price of GLD may well be limited to the rise in the price of gold, but what delimits the price of gold ?