San Gold Corporation

"if Gold ETF's did not exist that money would go into mining stocks but because they do exist you don't have to do all the work needed to find good gold stocks"

This to me makes gold equity investing easier and less risky for Joe Public and thereby attracts more capital for companies listed in the ETF or associated indices (like SGR). Remember all that volume SGR had 48hrs after we were listed in the index (HUI I think..)? ETFs have to put their money into play based on the composition of the index.

Again, most gold ETFs are negative for the POG as they are way above NPV based on physical gold in storage (PSLV/PHYS from Sprott being notable exceptions). Now, if GLD and SLV were dumped in support of Sprott - the bullion ETFs would be bullish for gold..