Ronald Leung’s original, dated commentary is reproduced below. Views, invitations and product references reflect the time of publication; they are not investment advice, an offer, a guarantee of return or confirmation of current availability.
Ronald’s commentary
One gram of gold buys a pizza. A gold ETF buys you a redemption form.
Both get called "gold." Only one skips the step where you cash out first and buy the pizza with the proceeds — and that missing step is the whole distance between owning gold and owning an investment in it.
Disclosure: Esperanza operates a tokenised gold business. — Let's open the statute. A new breakdown every week.