finally, an etf which does what it is supposed to do: it buys real metal. the dubai etf is backed by physical bullion, not futures or derivatives. perhaps they will do the same for silver, assuming they can find some silver bullion.

‘This is not a derivative product because it is 100 per cent backed by allocated gold held in London vaults by HSBC, and audited both by traditional and shariah auditors,’ CEO of the WGC Aram Shishmanian told ArabianMoney.Net.

He said it was important to understand the difference between unallocated and allocated gold. ‘The Dubai ETF has allocated gold, so there is no third party between the metal and its owner. The ETF certificate is an entitlement to one-tenth of an ounce of gold.’

http://news.goldseek.com/PeterCooper...