GLDW tracks The Solactive GLD Long USD Gold Index. The Index is designed to represent the daily performance of a long position in physical gold (as represented by the Gold Price) and a short position in the basket ("FX Basket") comprised of the Euro, Japanese Yen, British Pound Sterling, Canadian Dollar, Swedish Krona and Swiss Franc ("Reference Currencies") (i.e., a long USD exposure versus the FX Basket). In simple terms, the Index reflects the price of Gold in U.S. dollars adjusted by the price of each Reference Currency comprising the FX Basket against the U.S. dollar."[ GLDW Fund Page ] Digging deeper into the prospectus, I found that GLDW has a unique mechanism, by which it accomplishes the goal of accounting for a stronger dollar. It either receives gold from the gold delivery provider if the dollar strengthens and it delivers gold to the gold delivery provider if the dollar weakens. The Gold delivery provider as referenced below is Merrill Lynch International. The Fund will enter into a transaction to deliver Gold Bullion to, or receive Gold Bullion from, the Gold Delivery Provider each Business Day. [ GLDW Prospectus ] "In general, if there is a currency gain (i.e., the value of the USD against the Reference Currencies comprising the FX Basket increases), the Fund will receive Gold Bullion. In general, if there is a currency loss (i.e., the value of the USD against the Reference Currencies comprising the FX Basket decreases), the Fund will deliver Gold Bullion. In this manner, the amount of Gold Bullion held by the Fund will be adjusted to reflect the daily change in the value of the Reference Currencies comprising the FX Basket against the USD." [GLDW Prospectus] FX Basket According to the GLDW prospectus , these are the weights of each currency in the FX basket.
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A newlywed couple's first dance as man and wife is a beautiful wedding tradition, but Toscano says herlove for husband Jimmy O. Smith is so strong that she decided to change things up, and she's offering fans an intimate look with an exclusive video release. In addition, the song is now available on iTunes. The video offers a personal look into the couple's wedding, with visuals of the bride being walked down the aisle as a beaming groom awaits. "My husband is my biggest support system in the world and would literally move mountains to make me happy. On our wedding day, I wanted to finally return the favor and let him know how much he means to me," Toscano tells Billboard. To convey her feelings, Toscano discovered "Say You Won't Let Go" by The X Factor UK season 9 winner James Arthur and "immediately fell in love with how honest the lyrics were." "To me, it described our love story to a T, so I pulled in my friend and musical partner Jared Lee to do my own arrangement and spin on the song so it was even more personal," she says. "I decided that instead of dancing to our 'first dance' that I would change it up and serenade him. It was incredibly difficult to get through the song without bursting into happy tears, but I wouldn't change a thing. It was such a vulnerable and special moment between us and our closest friends and family." In an Instagram post, the Howard Beach, New York, native called Smith her "biggest cheerleader" and explained her decision to sing for him.
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