As one of the key pioneers of the gold ETF industry, the Alchemist invited Graham Tuckwell to write this article. In the 25 years since the Alchemist started, it is gold ETFs that have had one of the biggest impacts on the industry.
Up until now, there have been only five major articles in the Alchemist that have discussed gold ETFs. Three of them (see Alchemist 48, 51 and 70) were written by colleagues who worked for me and two of them (see Alchemist 64, in part, and 98) were written by people I had discussions with when developing the gold ETF. All of those articles have either educated readers on what gold ETFs are or have done, but none of them has ever revealed the story behind how and why the gold ETF came about and the obstacles that had to be overcome to get there.
This article reveals what really happened.
The Alchemist is the the quarterly publication of the LBMA (https://www.lbma.org.uk/alchem…)