A Gold ETF That Lets You Redeem Shares for Gold

There are others, like the Sprott gold and silver ETFs. But it’s good that the idea of redeemability for ordinary investors is catching on and that suspicion of “paper gold” is growing.

by Lewis Braham, Barron’s, New York

A Gold ETF That Lets You Redeem Shares for Gold

[…] How much is fear worth? That, in a nutshell, is the difficulty in valuing gold. It’s the currency of last resort for those who are afraid that all other assets will eventually become worthless. The greater investors’ angst, the higher gold’s value. Thus it commands a “fear premium” unlike any other asset.

That anxiety can translate into a desire among certain investors to keep physical gold in vaults in their basements, or shoved under their mattresses. If the much-anticipated global financial meltdown or zombie apocalypse occurs, having a bar or two on hand could prove useful — if not to barter, then to at least bash a zombie over the head. …

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