![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiptf1NgNO8SYQXN3b0qNQsFL6AVZf4l7GlnvVi5oEeofr07qamwNutjEp8vUJdqV8ljn8kLyQuCiECFPoIHfaiDNIsiyOOd-nLL96mQSZCDA0hG8g6GWPbbu-PwjMaRZzJfRtzYiMmFORv/s320/Table2OfficialGoldReservesinTonnesComparedwithGoldETFHoldings_01.jpg)
Gold Bullion Securities [GOLD] was the pioneer and began trading in Australia in March 2003. By the time LyxOR Gold Bullion Securities [GBS] listed in London during March 2004, it held only a few hundred thousand ounces in trust on behalf of investors. When StreetTRACKS GoldShares (GLD) was ready for launch mid December 2004, the amount of GBS gold holdings had risen to almost 2 million ounces worth around $900 million.
These securities offer investors a new, innovative, relatively cost efficient and secure way to access the gold market. All of the securities are backed by allocated gold held in a vault on behalf of investors. They are intended to offer investors a means of participating in the gold bullion market without the necessity of taking physical delivery of gold, and to buy and sell that interest through the trading of a security on a regulated stock exchange. The introduction of exchange-traded gold securities is intended to lower many of the barriers such as access, custody, and transaction costs, which have prevented some investors from investing in gold.
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