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Forbes Blogs: Is Your Gold Safe in an ETF?

LONDON, 30 September 2010 ? World-leading physical gold service BullionVault is mentioned today in a blog by William Baldwin, investment strategies editor at Forbes magazine.

Formerly editor of the top-selling US investment magazine for 11 years, Baldwin details the concerns held by some long-time "gold bugs" about market manipulation, the lack of transparency regarding gold holdings by the world's biggest central banks, and the complex legal structure of the exchange-traded trust funds now accounting for some $60 billion in the US alone.

"Banks can trade gold bars back and forth with some efficiency because they have not just assaying equipment, but paper trails detailing ownership of a bar from the moment it was cast by a member of the London Bullion Market Association," says Baldwin. "[But] buy gold coins from a dealer, and you'll pay a premium of 5% or more over the metal value."

Recounting the claims made by the Gold Anti-Trust Action Committee (GATA) ? and noting that exchange-traded trust funds "entail only an indirect claim on a pile of gold" ? "The Gatans prefer services like BullionVault, an online venture that assigns you your own chunk of gold, stored in New York, London or Zurich," says Baldwin.

You can read the whole story at Forbes online here.

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