"2009 was the year when gold ETFs really broke into the mass consciousness...
Yet by 2011 the market had collapsed: people were buying much, much larger quantities of physical bullion and coins, but the popularity of ETFs had greatly slumped.
This is even clearer when the ETF market is expressed as a percentage of the physical market. While in 2009 ETFs looked poised to overtake the market in physical bullion and coins, by 2011 they constituted merely a tenth of the physical market:
So what does this say about gold? I think it is shouting and screaming one thing: the people are slowly and subtly waking up to gold’s true role...."