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Published on Gold Anti-Trust Action Committee (http://www.gata.org)

CBSMarketWatch says gold ETF is expected to launch Thursday

By cpowell
Created 2004-11-17 08:00

By John Spence
CBSMarketWatch.com
Wednesday, November 17, 2004

http://cbs.marketwatch.com/news/newsfinder/pulseone.asp? [1]
dateid=38308.6839583333-
827083075&doctype=806&siteid=mktw&selCount=20&value=ETF&property=word&

BOSTON -- The first exchange-traded fund investing
in gold bullion will begin trading on the New York
Stock Exchange on Thursday, said sources familiar
with the situation.

Called StreetTracks Gold Shares, the ETF will trade
under the symbol "GLD" with the World Gold Council
as the sponsor.

Blocks of 100,000 shares are redeemable into gold
bullion, and shares should be priced at about 1/10th
the price of a troy ounce of gold but will deviate over
time since the 0.4 percent expense ratio will come
out of selling underlying gold to pay expenses of the
trust.

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Source URL:
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