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<p>[QUOTE=&quot;Cloudsweeper99, post: 755753, member: 3011&quot;]The prospectus states that “the Custodian has agreed that it will hold all of the Trust’s gold bars in its own London vault premises except when the gold bars have been allocated in a vault other than the Custodian’s London vault premises.” The prospectus then goes on to explain that other vaults allowed may reside at the Bank of England, Brinks Ltd., Via Mat International, and LBMA (London Bullion Market Association) market making members, and that in turn, these sub-custodians may appoint further sub-custodians to hold the trust’s gold if they so desire.&nbsp; In regard to ensuring that the gold actually exists, the prospectus then states that “the Trustee may have no right to visit the premises of any sub-custodian for the purposes of examining the Trust’s gold bars or any records maintained by the sub-custodian, and no sub-custodian will be obligated to cooperate in any review the Trustee may wish to conduct of the facilities, procedures, records or creditworthiness of such sub-custodian.” In other words, maybe the gold exists and maybe it doesn&#039;t.&nbsp; The list of bars you refer to is only a partial accounting of what they are supposed to &quot;own.&quot;&nbsp; Personally, I wouldn&#039;t touch GLD with my money after all of the frauds that have been uncovered in the past decade.[/QUOTE]</p><p><br /></p>

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