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Friday, 10th December 2004 (7595 views)

A gold exchange traded fund (ETF) could be launched in Hong Kong within the next year, following a successful debut on the New York Stock Exchange.<br/><br/>Although a number of options are being considered, it is thought that Hong Kong will be the choice and could then be followed by Tokyo, Singapore and Zurich.<br/><br/>A gold ETF in Australia was the first to be sponsored by the World Gold Council, followed by London and Johannesburg.<br/><br/>The gold ETF trades like any share and can be bought by investors through their stockbrokers.<br/><br/>According to experts the main issue is the amount of physical gold which investors are prepared to purchase.<br/><br/>The future of the product is dependent on new primary issues of ETFs, which will raise the quantity of gold and the number of shares that can be traded.<img src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=7286312"/>

 

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