GLD vault defragmentation

Warren has a cool animation showing the addition and redemption of pallets of gold bars out of GLD’s vault, done in the style of the old PC disk defrag programs, at the screwtapefiles blog. A few comments on the 5 minute animation (see screenshot below): During the redemptions in 2013, most of the bars are . . . → Read More: GLD vault defragmentation

Goldman Sachs’ Ian Preston Surveys the Gold ETF vs Equity Battleground

Gold equities are in competition with gold ETFs for shareholder dollars. In this exclusive Gold Report interview, Goldman Sachs Managing Director Ian Preston discusses the steps gold companies must take to pull investors back from the ETF space and shares Goldman Sachs’ outlook for the gold price over the next year or so.

. . . → Read More: Goldman Sachs’ Ian Preston Surveys the Gold ETF vs Equity Battleground

Bruno del Ama: Do ETFs Offer Value for MLPs?

Bruno del Ama is co-founder and CEO of Global X, which has recently rolled out its own MLP ETF. But as del Ama asserts, how to gain exposure to this promising asset class is really a matter of investor preference. In this exclusive interview with The Energy Report, del Ama explains the differing . . . → Read More: Bruno del Ama: Do ETFs Offer Value for MLPs?

MLPs = Good Returns in All Markets: Darren Schuringa

With interest rate yields so low, it’s not surprising that more investors are flocking to the excellent income and relative downside stability afforded by Master Limited Partnerships and related ETFs. In this exclusive interview with The Energy Report, Darren Schuringa, portfolio manager at Yorkville Capital Management, tells us about MLP sector performance and . . . → Read More: MLPs Equal Good Returns in All Markets: Darren Schuringa

Oil Prices Make for Profitable ETF Trades: Roger Wiegand

Today’s retail investors have more options than ever before, but there is a shortage of practical information on how to manipulate different investment products, be they ETFs, options or equities. Enter Roger Wiegand, editor of Trader Tracks. In this exclusive interview with The Energy Report, Wiegand discusses his methods for energy investment and . . . → Read More: Oil Prices Make for Profitable ETF Trades: Roger Wiegand

Gold lenders of last resort

Another post by FOFOA that will get you thinking. My response below.

FOFOA,

There would be many within the Mint who would be amused at you categorising me as a “mainstream” view. I understand you are using my explanations as representative of the mainstream view but I would like readers to be clear that . . . → Read More: Gold Lenders of Last Resort

Further discussions with FOFOA on GLD

FOFOA, Firstly, I’ll have to be more careful in how I write. My post was really mixing up responding to specific quotes of yours but then veering off on to related concepts/positions that are not yours. My exploration of the idea that APs would fraudulently take GLD gold or “GLD is bad because bullion . . . → Read More: Further Discussions with FOFOA on GLD

Fraud on GLD holders?

Further to my post yesterday, FOFOA left this comment on his blog discussing two risks he sees with GLD:

1. That the gold in GLD has multiple claims on it. Quote: “GLD’s gold bars originated as reserves in the mainstream bullion banking system. That is, they are essentially reserves on loan to the ETF . . . → Read More: Fraud on GLD Holders?

Funny business in GLD

FOFOA has an interesting speculation on the movements in GLD:

So now I offer up a scenario, not as a statement of fact, but as fodder for thought and discussion. In this scenario I am not assuming that the drain on GLD to date has been the direct redemption of ETF shares . . . → Read More: Funny Business in GLD

GLD, Leasing and Encumbrances

In an otherwise good analysis of GLD (Precious Metals ETF Alchemy GLD – the new CDO in disguise?) and building on Catherine Fitts’ Precious Metals Puzzle Palace Hinde Capital (as does Ms Fitts) gets it wrong on leasing (see slide 18). A bit of a problem considering that “GLD has encumbered gold in it” . . . → Read More: GLD, Leasing and Encumbrances