The SPDR Gold Trust (GLD) passed the SPDR S&P 500 (SPY) as the worlds largest
exchange-traded fund (ETF) on Monday, while gold futures hit a new all-time high
above $1,900 per ounce. Based on total net assets, the GLD now has $77.9
billion, compared to $74.4 billion for the SPY according to State Street Global
Advisors. The GLD serves as a proxy for the price of gold and is the most liquid
investment vehicle in the global equity markets for that purpose. COMEX gold
futures per the December 2011 contract briefly surpassed $1,900 per ounce this
afternoon, on their way to a new record high of $1,900.80 per ounce.
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