San Diego Housing Market News and Analysis
GLD ETF full of fake gold?
User Forum Topic
Submitted by Adebisi on November 23, 2009 - 9:53pm
Interesting story that if true means physical gold is way undervalued:
The gist of the article is that there are between 1.3 million and 1.5 million in fake 400 OZ gold bars out there. The 'fake' part of the bars is actually tungsten. It's unclear from the article whether the GLD ETF tests the gold bars that they take delivery of, but they have a legal disclaimer that basically says there's no guarantee that the gold in the trust is actually real.
It will be interesting to see if this story has legs.
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