A gold mining gives you leverage on owning gold because they (hopefully) produce it, just like the golden goose. A bullion vault give you one for one gold exposure on the price of gold less any storage and admin costs. An ETF... well, it is a leap in faith IMHO. You get exposure but no holding/admin costs. Seems too good to be true so it probably is. However like so many things in the financial system nowadays, no one will ask questions and nothing will be said until the day it all falls apart and then it will be too late for the hapless holders. Still, they can manage to keep all the balls in the air so far (with a few exceptions) so maybe it will be ok in the end.
