William Rhind, head of sales and marketing at ETFS, told us yesterday that the gold is stored in Switzerland, “one of the most independent countries in the world in terms of political influence.” Most gold in other funds is stored in London.
Gold prices have been increasing on concerns over a stock-market pullback and a depreciating dollar. Inflationary fears are also pushing investors toward a flight to hard assets. On Tuesday, gold prices hit $1,006.90 during the trading session and settled at $997.90.
For more information on gold, visit our gold category.
Max Chen contributed to this article.