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djk

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Posted March 01, 2008 (05:02AM)
GLD is an ETF (exchange traded fund) that is traded on the New York Stock Exchange. It's formal name is streetTRACKS Gold TRUST and it issues streetTRACKS Gold Shares that represent fractional interest and ownership of the Trust. The Trust buys, sells, and stores physical gold bullion. Each share of GLD represents approx. 1/10 of an ounce of the gold held by the Trust.
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djk

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Posted March 01, 2008 (05:20AM)
I bought GLD on 1/28/08 @ 91.13 and it has been overall quite flat except for the last week when gold rose to close the week at around 974.30. Friday (2/29/08) GLD closed @ 96.18. Up 5.5% since 1/28/08. I'd like to mention that shares of GLD held for over 1 year are taxed as "collectibles" @ the max rate of 28%. Shares held under a year are taxed as ordinary income.