Storing Physical Gold - Coins etc., page-22

the only Gold ETF I have traded is the ETF securities  "GOLD "  (  ASX ) which is physically backed by real gold.
As per the fact sheet :

GOLD is backed by physical allocated gold held by HSBC Bank plc (theCustodian). Only metal that conforms with the London Bullion Market Association's(LBMA) rules for Good Delivery can be accepted by the Custodian. Each physicalbar is segregated, individually identified and allocated.GOLD in an exchange traded commodity (ETC) that can be created andredeemed on demand (by authorised participants). It trades on the ASX just like ashare and is settled and held in ordinary brokerage accounts Its pricing andtracking operates similarly to an exchange traded fund. No new securities can beissued until the bullion is delivered to the Custodian's vault. There is no credit risk.