A holding statement is a record of quantities and of the status of those quantities. It is worth reading the labels before the largest number.
Grams first
The quantity that matters is in grams. Available grams can be considered for a sale. Reserved grams are still owned and are already committed. Restricted grams remain on the record and are not available while the restriction lasts. Adding them into one “spendable” figure hides the distinction the account is trying to keep.
The euro figure second
A euro amount next to the grams is an estimate when it is marked as one. It uses a price and a time. It is not the quote you would receive if you sold, and it is not cash in the account. Cash from an unfinished purchase, or from a payout that came back, is a money balance. It is not gold.
What the statement is not
GXLD’s ledger is the operational record. It does not, by itself, prove legal title. Title depends on the external evidence the arrangement requires. A gram balance is also not a claim that a particular bar has your name on it. That identification is not part of the current product. Ownership states the boundary, and Holding walks through the same quantities in the product.
Dates
Read the date on the statement and the date on any price it uses. A statement does not update itself because the market moved after it was produced.
