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RWA EDU · Markets

Gold structures, compared

Compare documented rights, obligations and access conditions. Source dates are snapshots, not live prices, an eligibility decision or an investment recommendation.

Official-document verification is not direct product testing, full legal-package completeness, reserve inspection or legal approval. Unknown is never zero or permission; conflicting terms remain unresolved. No live liquidity, ranking, trading or wallet is provided.

Coverage and missing structures

Five gold structures are distinguished: allocated token, unallocated claim, trust share, dated future and perpetual. Four named products plus one LBMA structural reference were researched. Other commodities require separate storage, quality and delivery evidence; the gold model is not copied to them.

Matching records: 5 · Selected: 0/2

Choose up to two records from this sector. Remove one before adding another. Comparison can include a clearly labelled structure reference.

Real product record

PAX Gold (PAXG)

Terms describe proportional beneficial ownership in allocated gold. This is distinct from equity, a generic custody claim, or verified current reserves.

Allocated gold token · Beneficial ownership of commodity

Paxos US provider contract; London custody; platform redemption conditions

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Real product record

SPDR Gold Trust (GLD)

A traditional trust share baseline, with a fractional undivided beneficial interest in the Trust; not direct title to a particular gold bar.

Traditional gold trust share · Pooled vehicle share / trust interest

United States / New York investment trust

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Real product record

COMEX Gold Futures (GC)

A traditional dated gold-futures baseline with delivery rules, distinct from a perpetual and from present ownership of a specific bar.

Dated gold future · Derivative exposure

COMEX / United States; broker/customer conditions not established

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Educational structure reference

Unallocated gold account — LBMA structural reference

An educational structure reference, not a fifth commercial gold product or an application offer.

Unallocated gold claim reference · Contractual claim

Loco London OTC guide; no specific bank/customer agreement

This is not a commercial product or an application offer. A specific operator agreement has not been reviewed.

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Real product record

Kraken EEA PF_XAUUSD perpetual

A venue-specific cash-settled perpetual derivative; no underlying title or physical delivery. Funding, margin and eligibility conditions apply.

Gold perpetual · Derivative exposure

EEA clients / Payward Europe Digital Solutions (CY) Limited channel

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