Help converting GLD ETF to ZKB ETF

[Swiss]

I own GLD. I do not trust it.

I wish I owned ZKB.

http://en.wikipedia.org/wiki/Gold_exchange-traded_product

It is backed by real gold in Switzerland.

How can I dump GLD and purchase ZKB without a loss?

I am not sure I can sell GLD and buy ZKB at the exact time.

I am concerned that if trading for ZKB is done for the day when I sell GLD here in the US that I would have to risk the price going down overnight.

Thanks!

[silverblood]

I do not know how to do what you are asking, but I'll tell you that most people on this site will say that you should sell the GLD and buy physical gold and silver and keep it in your possession. You have to have money you are willing to lose completely to buy an ETF. Just my opinion, but I'm not rich or all that knowledgeable.

[bemac]

Personally, I wouldn't touch an ETF.


http://www.youtube.com/watch?v=svAs-6MiqxE

[dacrunch]

depending on your broker or account, it can take up to 3 days for your "sale" to "clear" and give you the funds "available for trading"...

[Swiss]

depending on your broker or account, it can take up to 3 days for your "sale" to "clear" and give you the funds "available for trading"...

Crap. Much can happen in 3 days!!!

Also, I compared charts... it seems like ZKB does not track gold like GLD does.

If there was a huge run on GLD, I think I will be ok. I do not have very much in there.

I talked to a marketing guy at GLD and he says they have like 60 billion. My investment is a drop in the ocean.

Thanks for your answer Dacrunch.

[phideaux]

Swiss,, it all depends on your broker, and how much capital you have in the account.

So your conern is being out of gold for 2-3 days?

If so, why not just buy a few calls on GLD until your GLD trade settles and then sell the calls when you buy ZKB. Sure you'll have some commssions on the calls. so it may not be worth it if you are dealing with relatively smalll amounts of GLD shares..

[Swiss]

Swiss,, it all depends on your broker, and how much capital you have in the account.

So you're conern is being out of gold for 2-3 days?

If so, why not just buy a few calls on GLD until your GLD trade settles and then sell the calls when you buy ZKB. Sure you'll have some commssions on the calls. so it may not be worth it if you are dealing with relatively smalll amounts of GLD shares..

I am not sophisticated enough to do calls. However, you gave me an idea...
Sell of a bit at a time and buy ZKB a bit at a time. Kind of like dollar cost averaging, sort of.