what do you think of the underlying trust Streettracks? I am not thinking of purchasing it and hold it forever in lieu of gold. If and when I want physical gold I just buy some but what about the fundamental soundness of GLD. A year ago I read a rather disparaging article of GLD and where is the gold kept and the trusts basic premise as a accounting smokes and mirrors, what is your take? It is for my roth IRA... I guess the alternative would be a diversified precious metal fund..... http://streettracksgoldshares.com/index.php?noMsg=true
If You're afraid that gold held in trust is just a scam, don't be, you're dealing with State Street, a HUGE company. However, if you're afraid that the U.S. banking system will fall apart, hyperinflation, reserves going to shit, the dollar falling to a tenth of what it is at now, then DONT hold it in promisary notes, don't hold it in futures either, hold it in PHYSICAL. The use of Gold as an inflation hedge, capital appreciation or speculation is easily handled with promisory instruments, but if your true desire is to make sure you have something after a Katrina, then better go pick up the shiny stuff
Thanks for the ideas...I do not know what the future holds and how events will unfold (if I did I would be rich However I am very uneasy about paper assets like money so I am looking for assets that beat inflation and store value....