GLD Passes SPY as Largest ETF (Assets)

As I type this, a little after 3pm, $GLD has surpassed $SPY to become the largest ETF.  Now, there is clearly more money “indexed” to the S&P 500 than there is to gold – as there are a number of other S&P 500 proxies, (ie: $IVV, mutual funds, etc, and of course there are several other gold proxies as well: $IAU, $PHYS, etc) – but it’s still worth noticing the rise in both gold’s price and popularity.

Also, anyone who tells you that GLD’s existence has been detrimental to the price of gold deserves a Sicilian Grandmother’s Backslap to the Face (same for $SLV and silver).

Edit: I must include the Austin Powers/Goldmember clip on this post:


-KD

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