Recently we discussed the iShares ETF IAU which is a gold trust ETF like the silver trust ETF SLV. Now here’s another one that, if you’re into ETFs, you may be interested in. It’s called streetTRACKS Gold Trust (GLD).
Like IAU and SLV, GLD buys and stores gold and allows investors to buy a share of the gold it owns. The price basically tracks the price of gold per ounce at about 1/10th the value of an ounce of gold. Fees are taken off for running the fund, which is the reason for not tracking the price exactly.
Currently, the precious metals market has been taking off as investors try and find a safer place to put their money than the stock market. If you want to buy gold, rather than buy gold bullion, you can purchase gold through the ETF and take advantage of long term capital gains tax benefits. If you buy gold bars or coins you’ll need to pay full capital gains taxes.
These are just some of the advantages that buying gold through ETFs such as IAU and GLD can offer.
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