[From CNBC]: “While there are several gold exchange-traded products available, the SPDR Gold Trust, with over $60 billion in assets, is far and away the largest.
OK, so when you invest in the GLD you have an ownership interest in a Trust, which owns gold. Where is the gold, and who looks after it?
That is the job of the custodian. In the case of this ETF, the custodian is HSBC. The firm is responsible for safekeeping of the bars.
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