I think this is old news there has never been enough Gold to cover all the Gold ETF's, the multiples are crazy from what I've read.
Owners of ETF's will only get paid paper $$$ never real Gold unless specified in their contract (Maybe only the Perth Mint and such will promise that)
A good analogy I read was for you to loan the value of your house out to 100 different people to speculate on.
Ultimately only one can claim it, the rest will just get the cash from the broker/lender
Just another financial magic trick making something from nothing ;)
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Last
39.3¢ |
Change
-0.023(5.42%) |
Mkt cap ! $2.755B | |||
| Open | High | Low | Value | Volume |
| 40.5¢ | 41.0¢ | 39.0¢ | $4.514M | 11.24M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 64 | 1573474 | 39.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 39.5¢ | 1786308 | 47 |
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| Last trade - 12.45pm 25/07/2024 (20 minute delay) ? |
| RED (ASX) Chart |