Letter Re: Physical Gold Versus Synthetic Gold, a View Redux
Dear Mr. Rawles: You don’t seem to be the type of guy who enjoys saying “I told you so” when you are proven to be right, but I thought I’d at least give you that opportunity. Back in May, I wrote to you singing the praises of synthetic gold ownership via Exchange Traded Funds (ETFs), and opined that “physical gold combines the worst of all worlds.” I’ve since started building my long position in gold (and silver), and I surprised myself by deciding quite early on to hold physical metals rather than to express my long position synthetically. This was …