ETF Securities offers the ETF ETFS Gold Trust (NYSEArca: SGOL), which stores gold in Switzerland as compared to other funds with gold stored in New York, London and Toronto. SGOL has an expense ratio of 0.39%.
Gold hovers around $1,170 an ounce on the Comex, gaining as equities turned lower and the dollar remained weak, report Claudia Assis and April H. Lee for MarketWatch. However, Kitco Metals analyst Jon Nadler believes that the gold traders are reducing holdings of gold and related ETFs as the eurozone situation stabilizes. Leonard Kaplan, president of Prospector Asset Management, comments that gold supply is high and jewelry demand is large absent. [Why Gold ETFs Are Declining.]
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Max Chen contributed to this article.