Gold ETF Continues Towards Highs

SPDR Gold Trust ETF

has continued to move towards the highs, as the yellow metal closed over $1,500 an ounce. At last check, shares of the ETF which tracks the price of the metal were trading at $147.67, up $2.02‎ or 1.39%‎ on almost 17 million shares. The investment seeks to replicate the performance, net of expenses, of the price of gold bullion. The trust holds gold, and is expected to issue baskets in exchange for deposits of gold, and to distribute gold in connection with redemption of baskets. The gold held by the trust will only be sold on an as-needed basis to pay trust expenses, in the event the trust terminates and liquidates its assets, or as otherwise required by law or regulation.