You are here
Goldman Sachs completes acquisition of Perth Mint gold ETF
If you'd really like a piece of this ETF, could GATA also interest you in shares of ownership of a bridge in Brooklyn?
* * *
By Simon Smith
ETF Strategy, London
Monday, December 14, 2020
Goldman Sachs Asset Management has finalized its takeover of the Perth Mint’s $500m New York-listed gold ETF.
Renamed the Goldman Sachs Physical Gold ETF, the ETF will have an unchanged fee, at 0.18%, as is lists on NYSE Arca.
The ETF also continues to provide the same fundamental function -- namely, physical exposure to gold bars meeting the specifications for “good delivery,” as defined by the London Bullion Market Association.
... Dispatch continues below ...
Buy metals at GoldMoney and enjoy international storage
GoldMoney was established in 2001 by James and Geoff Turk and is safeguarding more than $1.7 billion in metals and currencies. Buy gold, silver, platinum, and palladium from GoldMoney over the Internet and store them in vaults in Canada, Hong Kong, Singapore, Switzerland, and the United Kingdom, taking advantage of GoldMoney's low storage rates, among the most competitive in the industry. GoldMoney also offers delivery of 100-gram and 1-kilogram gold bars and 1-kilogram silver bars. To learn more, please visit:
But while the fee, listing venue, and investment objective are all unchanged, the original custodian -- the Perth Mint -- has been removed and, along with it, the ETF's unique guarantee from the government of the State of Western Australia.
Also out with the Perth Mint is the ETF's novel convertibility feature that allowed shareholders to exchange their shares for delivery of physical gold in the form of bullion bars and coins issued by the mint.
In its place as custodian is the London branch of JP Morgan Chase -- one half of a duopoly of banks (the other half being HSBC) that is home to an increasingly large and arguably alarming concentration (approx. 2,500 tonnes) of ETF-owned gold. ...
... For the remainder of the report:
Toast to a free gold market
with great GATA-label wine
Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA's recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express.
Here's what the bottles look like:
Buyers can compose their case by choosing as many as four varietals from the list here:
GATA will receive a commission on each case of GATA-label wine sold. So if you like wine and buy it anyway, why not buy it in a way that supports our work to achieve free and transparent markets in the monetary metals?
To order a case of GATA-label wine, please e-mail Fay J Winery at email@example.com.
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon --
-- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at firstname.lastname@example.org.
* * *
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: