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A comment on Gold price rises above $2k for first time. Parent comment

Re:Gold price rises above $2k for first time by anoraca on Wednesday August 05, 2020 @04:47PM (#24065426)
Gold has been abstracted into a digital form so anyone who wants to invest in options and futures can now own digital gold, which makes it easier to trade, since no physical delivery or storage is required. Greed is extremely powerful. As is fear.

https://www.marketwatch.com/investing/fund/gld

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Re:Gold price rises above $2k for first time by fredfoobar on Wednesday August 05, 2020 @04:49PM (#24065441)
Who's guaranteeing that this is backed by real gold? how can we verify? can I take delivery whenever I want?
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Re:Gold price rises above $2k for first time by yesplorer on Wednesday August 05, 2020 @06:11PM (#24066178)
Most of the people trading Gold are trading it as a CFD asset anyway, so they shouldn't have any expectation of having it backed by real gold.
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Re:Gold price rises above $2k for first time by pvfffghhr on Wednesday August 05, 2020 @05:00PM (#24065544)
So the only conceivable reason people invest or create financial instruments is greed?
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