Friday, November 4, 2011

Gold: The hedge against political stupidity 

One correction in the article:  GLD is the ETF that attempts to track the price of spot gold (and allegedly is partially backed by physical gold bullion).  GDX is the ETF that is an index of gold mining company shares.  The article mistakenly says this about influential hedge fund manager David Einhorn:
He said his firm has shifted some money into the Market Vectors Gold Miners ETF (GLD), adding that he expected gold prices to continue to rise.
That can't be true.  He either bought GLD or GDX, which is the Market Vectors Gold Miners ETF.  See

So take it from me--your trusted source about everything related to precious metals.  Even the "experts" can get it wrong.

No comments:

Post a Comment