Richard Russell writes, in part:
I’m asked what the U.S. government’s attitude is towards gold. My answer – their attitude is – “Leave gold alone, but definitely don’t encourage people to buy it.” Why do I say that? Answer – Month after month goes by and the authorities have still not OK’d a gold ETF. A gold ETF would allow Americans to buy gold easily; a gold ETF would supply almost instant liquidity to gold for the average retail buyer. A U.S. gold ETF hasn’t happened yet, although it’s happened in Australia and Britain. And you have to ask – WHY?
Anyone know anything more about this? There was an article in CBS Marketwatch over a year ago, about the World Gold Council’s Equity Gold Trust (GLD: news, chart, profile) seeking SEC approval, but I never saw anything further on the matter. When entered into Yahoo, GLD is not recognized. http://tinyurl.com/33795 Any news or insight welcome.
