Why have all the custodians and potential custodians of the funds gold not been identified?
They have and it is included in the prospectus as follows: “The sub custodians selected and used by the Custodian as of the date of this prospectus are: the Bank of England, The Bank of Nova Scotia (ScotiaMocatta), Deutsche Bank AG, JPMorgan Chase Bank, and UBS AG. The Allocated Bullion Account Agreement provides that the Custodian will notify the Trustee if it selects any additional sub custodians or stops using any sub custodian it has previously selected.” Note that the subs are not street corner merchants but 5 of the eight clearing members of the LMBA. It is intended that all of the gold in the allocated account be held in HSBC’s vault, however we must remember that GLD is a continuously offered trust and must prepare for unforeseen eventualities that may necessitate storage in other locations other than HSBC’s vault. The listing of potential sub custodians is to cover situations that may arise. Currently all the bars are in custody in HSBC’s vaults. Question: Why is the fund refu
