RE: This fund does not track the price of gold in £4 Jun 2022 09:42
In one week between the 28th May and 4th of June Gold went up from £1,468.01 to £1,483.17, whilst this fund dropped from 18.483 to 18.339. this means that in one week the factual divergence between the price of actual gold and a fund that is promoted as tracking the gold price and equivalent to holding gold, is 1.81%. Nearly two percent per week!
The fall from the beginning of the year is much greater.
This fund is marketed as equivalent to holding physical gold. The facts of the data indicate this is not true and holding this fund long term will only result in a significant loss. Nearly 2% loss in a single week.