From Trader's Narrative:
As gold bullion made a third attempt at the round number $1,000 there is a rush to feed a seemingly insatiable demand for gold securitization: (chart in link below)
The most recent related IPO was the Claymore Gold Bullion Trust (CGL.un) on the Toronto Stock Exchange. Claymore is a small but innovative Canadian based asset manager and they've created a unique product.
...The Claymore Gold IPO was oversubscribed ($460 million Cdn) with over half being taken by large institutions... In the end, I can't help but remember what we should have learned long ago: Don't Buy What Wall St. Sells.
Read full article...
More posts on gold:
Short gold now
The greatest gold story of all time
The right amount of gold you should own