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What really you buy with GLD?

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Not applicable
I am new on JSE and I am interested to purchase GLD. Absa confim that I will buy phisical gol, but some other disagree and say that you just buy stock? Some one can give a staright answer? regards
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11 REPLIES 11
Werner_1
Super Contributor
It is listed instrument that holds real gold at the Rand Refinary. By stock, do you mean shares in gold miners, then the answer is no, they don't have those - did you see their website - http://www.absa.co.za/absacoza/content.jsp?/Home/Personal/Products-and-Services/Investing/Equity/New...
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Not applicable
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Werner_1
Super Contributor
The price is directly calculated using the ZAR-USD and Gold Price, then 1/100th of that for 1 unit.
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Not applicable
Hi Werner thanks for your reply, It seem you know more than some people, if I can abuse of your courtesy I would like to ask you an other question Please do not fell obbligated to answer If I buy share via Absa new gold +, every month I buy example R1000 and after 12 months I decide to have my gold, will Absa give in my hand the physical gold regards
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Werner_1
Super Contributor
As I understand it is a financial instrument and one cannot take physical delivery. That would put a huge burden on ABSA and the Rand Refinary to manage that and i think they will possibly not allow that. No problem in asking questions, if i can answer them i am glad to have my say now and then...
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barry_1
Super Contributor
Harmony quarterly turn a round results very good....see....miningweekly.com
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Not applicable
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Werner_1
Super Contributor
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Shard
Super Contributor
I'm a gold bug as such, but it always worries me when miners punt the gold price, if its such a sure bet, why does it need punting...
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SimonPB
Valued Contributor
they have to put the price, heck if they don't - who will ? Even when gold was on it's way down from 850 in the early 80's to aroud 250 they punted it all the way down. The quesion is why does the media bother to ask them?
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louisg
Super Contributor
Simon probably to keep the gold bugs fixated.....advertising revenue.
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