You are here

Jeff Clark: Here's why you should stay away from gold ETFs

Section: Daily Dispatches

1p HKT Sunday, April 10, 2016

Dear Friend of GATA and Gold:

Jeff Clark, senior metals analyst for Hard Assets Alliance, explained this week why gold exchange-traded funds are not really gold at all for the ordinary investor but rather mere claims on an asset that may not be accessible when an investor really wants it.

Citing the exchange-traded fund GLD, Clark notes that it "uses a custodian -- without question the most crucial counterparty in a gold ETF -- with a history of unethical behavior that many investors aren't aware of."

Even GLD investors owning the number of shares necessary to be allowed to convert them to metal -- 100,000 -- are not fully secure, according to Clark. He writes: "The fund reserves the right to 'settle in cash.' Even if you meet all the requirements for delivery, the fund can, for any reason it deems necessary, send you a check instead of bullion."

Clark's analysis is headlined "Here's Why You Should Stay Away from Gold ETFs" and it's posted at the Hard Assets Alliance Internet site here:

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.


Silver Coins and Rounds with Employee Pricing and Free Shipping

Grab your Silver Starter Kit at cost from Money Metals Exchange, the company named "Precious Metals Dealer of the Year" by industry ratings group Bullion Directory.

Simply go to and type "GATA" in the radio box at the top of the page.

This special silver offer contains 4 ounces of silver coins and rounds in the most popular 1-ounce, half-ounce, and 10th-ounce forms. Claim yours now, because GATA readers get employee pricing and free shipping.

So go to --

-- and type "GATA" in the radio box at the top of the page.

Join GATA here:

Mining Investment Asia
Wednesday-Friday, April 13-15, 2016
Marina Bay Sands, Singapore

Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

To contribute to GATA, please visit: