Though details are still scant. Expenses expected to be 0.3-0.4%. One unfortunate point:
“Finally, strange though it may sound, gold — even gold bars in a vault — are classified as “collectables,” (artwork also falls under this category) and are therefore taxed at a higher 28 percent capital gains rate in the U.S. after being held for more than one year. Like any asset, if you sell it within a year, it is taxed as ordinary income.
Click here. for the article.
Also, for a summary of how Gold ETFs have operated in Australia and London, click here.
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A possible solution to the unfortuante tax-rate that gold profits make is to buy stocks of gold-mining companies, or to buy a mutual fund that invests in gold-mining companies. You can also invest in gold within a Roth IRA, thus eliminating the tax-problem.
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