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Monday, 1st November 2004 (3935 views)

A new exchange has been set up in South Africa today in gold bullion securities.<BR/><BR/>The offering is supported by the World Gold Council (WGC) and will be known as NewGold Gold Bullion Debentures, according to Mineweb.<BR/><BR/>Johannesburg's offering is the third in a series, following similar products in Sydney and London.<BR/><BR/>The product allows investors access to an instrument that is backed on a one-to-one basis by gold.<BR/><BR/>It was set up since previous WGC research showed that a number of professional investors were put off in the past by difficulties for direct investment in gold.<img src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=3764667"/>

 

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