If you read the prospectus you'll find that each GOLD share represents 0.0958324542 (Approx) ounces of physical bullion. Each year they reduce this amount by 40 basis points so next year 1 GOLD share is worth 0.0958324502 and so on.
I don't really like the sound of it and would rather hold the bullion in my back pocket, under the mattress or buried in the garden.
