asx gold etf and leasing gold, page-3

I think you asked the wrong question Butcher.
You should have asked how much of the ETF is back by 100% owned, stored and not available to any other party, gold bullion? I think you would find that the answer would be closer to 0 than 100%. ETF's are only profitable if they do not have to buy outright the product they supposed cover. Think about it, purchase costs, storage costs, office costs, and if prices fall, how does an ETF company cover itself? Shorting perhaps. No, they do it just by selling pieces of paper. Try and collect the gold you believe you own based on your ETF purchases and see how far you get.