Loading ...Can an investor take physical possession of the gold backing his/her shares of SPDR® Gold Trust (the “Trust” or “GLD”)?
The Trustee of the Trust, The Bank of New York Mellon, does not deal directly with the public. The Trustee handles creation and redemption of the Trust orders for the Trust’s shares with Authorized Participants, who deal in blocks of 100,000 SPDR® Gold Shares. An individual investor wishing to exchange the Trust’s shares for physical gold would have to come to the appropriate arrangements with his or her broker and an Authorized Participant.
Total gold in trust Today
- Tonnes
- 978.99
- Ounces
- 31,475,579.87
- Value US$
- 50,755,315,843.95
Comment:
Now, who or what “participants” would be needing or wanting to take possession? JP Morgan? Chase? GLD had stored In 6/30/06, 372 Tons, 979 today. Allegedly. Sounds like its in London 400 oz bars.
A 14″ X 14″ X 14″ Square Block Of Gold Is One Ton or 2000 lbs. So todays 979 Tons sounds like a lot but its a little over 979 Cubic Feet. A typical 14 cu ft in a refrigerator? So its the size of 70 refrigerators. ? Double check the numbers I did this fast.