How exchange-traded fund GLD lets you pretend to own gold

``GLD shares to physical gold and take delivery of it. But practically, you can't. For one thing, you have to be approved to do so (generally meaning you're either a broker or a market maker), and then you have to redeem a minimum of 100,000 shares. And even if you meet those qualifications, buried in the firm's prospectus... there is a provision stating that they have the option of redeeming such shares in cash equivalent rather than bullion."''