lawman
Thinks s/he gets paid by the post
Help me understand. Gold closed up today $46.10 at $892.20. GLD closed down 3.11%. If GLD is an ETF that tracks the price of gold then why the big difference?
Good reminder that the T in ETF is for traded. The traders are betting that gold prices is going to go down in the long run and this is a temporary spike. This is similar to closed-end mutual funds trading less than their NAVs.
It will eventually catch up and probably overshoot. I own SPY which tracks the S&P500 but it frequently closes +/- 0.2% away from its "asset value." It pisses me off but that's because of my OCB tendencies.Call me dumb but I still don't understand..That's not tracking gold. That's speculating..If gold goes up again tomorrow and the next day and the next day and the next where's that gonna leave the "tracking " fund?
It will eventually catch up and probably overshoot. I own SPY which tracks the S&P500 but it frequently closes +/- 0.2% away from its "asset value." It pisses me off but that's because of my OCB tendencies.
Obsessive Compulsive Behavior -- I think Monk is normal.OCB does that mean overly crafty boy