Each share of OUNZ is like holding a fractional share of physical gold, so investors are able to exchange shares for gold bullion whenever they desire. One share of OUNZ is the equivalent of 0.0099 ounces of gold, according to Merk Gold.
Since 2008, central banks have “added more than 2,800 tonnes to reserves – nearly 10% of the global total. China and Russia are the main buyers, but developed world central banks have been adding too, or at least keeping reserves static,” reports ETF Daily News.
For more information on the Gold ETFs, visit our Gold category.
Tom Lydon’s clients own shares of GLD.