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Gold's late-May decline to its lowest levels in four months could mean now is the time to buy shares in SPDR Gold Trust ETF (NYSE Arca: GLD). GLD, the world's largest gold-backed exchange-traded fund, is down more than 8% since mid-March to a discounted price of $120.65 a share.
That makes the ETF, whose shares have been sought by the likes of world-renowned hedge fund managers like George Soros and John Paulson, a value buy right now.
Since its inception in November 2004, the fund has gone up 169.43%, despite a 27.05% drop in 2013 – gold's worst year since 1981. Investors are especially attracted to this ETF because it allows them to "own" physical metal. GLD tracks the performance of gold bullion by holding London bars and issuing shares backed by these physical holdings.
"The analog [to GLD] is that to buy one share of GE I don't have to go to their sales guy, I press a button on my computer and I own it," World Gold Trust Services (WGTS) managing director Jason Toussaint said to