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<p>[QUOTE=&quot;Cloudsweeper99, post: 922568, member: 3011&quot;]GLD is a trust.&nbsp; The gold is stored in London, not New York.&nbsp; And you don&#039;t own gold.&nbsp; You own shares in a trust that owns gold.&nbsp; The premium you pay is the expense ratio which is about 0.40% annually, so the longer you hold it, the less gold there is per share.&nbsp; It is a grantor trust for tax purposes, so unless the shares are held in a tax deferred account, hopefully you are reporting your share of the trust income from gold sales and expenses on your tax return every year.&nbsp; You are required to do this whether or not you, personally, sell any shares.&nbsp; And you are paying to buy and sell the fund even if you don&#039;t pay commissions at the bid/ask spread.[/QUOTE]</p><p><br /></p>

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