That's the exchange traded fund elroy! The usually referred to...

That's the exchange traded fund elroy! The usually referred to gold ETF. Each share is supposed to be backed by 1/10 oz of physical gold held in a vault, although this has been questioned by a few gold pundits, including James Turk at goldmoney.com. Convenient trading vehicle for gold we're told, and a quick way to keep track of AU$ gold price. Buy bullion for investment I think.