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ETF investor turns paper into gold bullion for the first time

Posted on 15 October 2010

From Citywire.co.uk: A mystery investor has paid a £750 fee and turned shares in an exchange traded fund (ETF) into physical gold. The ETF - or exchange traded commodity (ETC) - called Gold Bullion Securities, has a built-in facility that allows investors to swap their shares for gold, but this has never been used before.
The timing of the first transaction of this sort is likely to be related to the price of gold which has been hitting new highs on a daily basis……………………………………….Full Article: Source

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VRS - who has written 39872 posts on Opalesque Commodities Briefing.


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