SPDR Gold (NYSE:GLD) Holds $48 Billion in Gold

As the price of gold continues to rise, SPDR Gold (NYSE:GLD), the largest gold ETF in the world, has increased in value with it, now holding 38.9 million ounces of gold, worth over $48 billion.

The price of gold increased to almost $1,250 an ounce in the early part of the trading day on Friday, although it plummeted just before noon, and has fallen down near $1,231 an ounce on Saturday.

With the SPDR Gold Trust being a simple investment which moves in unison with the price of gold, investors have been pouring money into it as confidence in paper currencies wane, and government have their central banks printing out money at unprecedented levels, which will ultimately lead to inflation as their currencies are debased.

It is also having an impact on exports from countries whose currencies are strengthening against the euro, and that has caused problems as well.

Either way, gold will flourish because of the endless printing of money and politician refusing to stop offering bailouts to every large business or nation that gets in trouble.

Gold is considered the reserve currency of the world by many, and safety and a hedge against inflation will keep that the case for many years.