alexgreat replied the topic: Market Sentiment shifting
Rather than congratulate the U.S. Commodity Futures Trading Commission for taking note last week of the manipulation of the monetary metals futures markets, silver market rigging whistleblower Ted Butler today notes acerbically that the violations just cited by the commission took place during its interminable investigation of the silver market, which found ... nothing at all!
GoldnBoy replied the topic: Market Sentiment shifting
Looks like more paper gold is needed
The World Gold Council has filed for a new physical gold ETF. The Gold Trust will be very similar to the $35 billion SPDR Gold Trust (GLD), the world’s largest gold fund, but with key differences.
At first glance, the fund looks like it will go head to head with GLD, but maybe not. It seems unlikely the World Gold Council would want to cannibalize a successful existing product that already has its backing. The filing is actually quite vague, with a lot of information—including the ticker and expense ratio—left blank.
GLD’s main competitor is the iShares Gold Trust (IAU). A share of IAU represents ownership of 1/100th of an ounce of gold. However, one share of GLD represents 1/10th of an ounce of gold.