The gold ETFs you analyze are physically-backed ETFs, right? Whether an ETF is physically-backed or futures-based seems important. Is it possible that the gold spot price hasn't moved in the last decade because the volume of trading on futures-based ETFs over the period has grown to dwarf the physical ETFs over the period?
thank you. It is like a gospel to me.
Interesting article...
PAXG is already a gold backed tokenized product
The gold ETFs you analyze are physically-backed ETFs, right? Whether an ETF is physically-backed or futures-based seems important. Is it possible that the gold spot price hasn't moved in the last decade because the volume of trading on futures-based ETFs over the period has grown to dwarf the physical ETFs over the period?