Martin Weiss publishes the very conservative Safe Money Report. He had carried a 2.5% of your portfolio in gold bullion. His latest update now recommends adding 2.5% of your portfolio to GLD. It looks as if this is a recommendation for trading in gold and not in long term hold.

I still don’t like the idea of GLD even for trading. There are honest “proven” holders of bullion that can act as a trading vehicle. Until any of the SPDR ETFs can be fully audited to the extent that one can distinguish between paper, encumbered physical, and un-encumbered physical, I will avoid them like the plague.