Barclays Goes For Gold

Now Barclays Global Investors is going for the gold, too.

Following in the footsteps of rival State Street (STT Quote), the leading exchange-traded fund house is rolling out a gold-linked ETF. The iShares Comex Gold Trust (IAU Quote) ETF began trading on the American Stock Exchange Friday.

Each share in the iShares Comex Gold fund will correspond to one-tenth of a troy ounce of gold. The ETF's trustee, the Bank of New York, will value the trust's gold on the basis of that day's announced Comex settlement price for the spot month gold futures contract. The shares of the trust willl reflect the price of the gold owned by the trust, minus expenses and liabilities. ...