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Time To Rethink A Gold Allocation?

  
By Pacific Park Financial Inc. (Gary Gordon)Apr 16, 2015 12:15AM ET
www.investing.com/analysis/is-it-time-to-rethink-an-allocation-to-gold-248580?comment=967829
Time To Rethink A Gold Allocation?
By Pacific Park Financial Inc. (Gary Gordon)   |  Apr 16, 2015 12:15AM ET

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Patrick Souther
Patrick Souther Apr 16, 2015 1:25PM ET
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Gary, you seem particularly familiar with GLD. Would you happen to know any specifics on GLD's insurance situation? I found the following statement to be quite informative: "Did anyone try calling the GLD hotline in search of numerical details on GLD's insurance? The prospectus vaguely states "The Custodian maintains insurance with regard to its business on such terms and conditions as it considers appropriate which does not cover the full amount of gold held in custody." When I called asking for clarification on this clause and about how much of the gold was insured, the representative proceeded act as if he didn't know and said they were just the "marketing agent" for GLD. What kind of marketing agent doesn't know such basic information about a product they are marketing? It seems like they are deliberately hiding information from investors."
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