People Can’t Get Their Gold Out Of GLD As Inventories Plunge
KingWorldNews.com
September 11, 2013
On the heels of a viral King World News interview with Singapore fund manager, Grant Williams, where he exposed the fact that GLD is telling customers, “they can’t have the gold,” KWN also reached out to 42-year market veteran John Hathaway to get his take on these dramatic events which have transpired. Hathaway had a powerful take on what has unfolded and he also spoke about the enormous implications as this massive run on physical gold continues. Hathaway, of Tocqueville Asset Management L.P., is one of the most respected institutional minds in the world today regarding gold, and his fund was awarded a coveted 5-star rating.
Eric King: “John, I know you have seen today’s interview with Grant Williams, but I don’t think people around the world understand what’s happening with GLD. People have tried to get their gold out of that ETF and you just can’t get it.”
Hathaway: “That’s right. If you are, say, Goldman Sachs or JP Morgan, or one of the big bullion dealers, you can exchange shares for gold. And it’s just an arbitrage game for the dealers.
But if you are not within that system, and you have 100,000 shares of GLD, it’s like pulling teeth trying to get physical gold out of that ETF….
The Rest…HERE
