GLD Now World’s Largest ETF, Gold Hits $1,900

The SPDR Gold Trust (GLD) passed the SPDR S&P 500 (SPY) as the world’s largest exchange-traded fund (ETF) on Monday, while gold futures hit a new all-time high above $1,900 per ounce.

Based on total net assets, the GLD now has $77.9 billion, compared to $74.4 billion for the SPY – according to State Street Global Advisors.

The GLD serves as a proxy for the price of gold and is the most liquid investment vehicle in the global equity markets for that purpose.

COMEX gold futures – per the December 2011 contract – briefly surpassed $1,900 per ounce this afternoon, on their way to a new record high of $1,900.80 per ounce.