Friday, 10th December 2004 (6035 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.

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.

A gold ETF in Australia was the first to be sponsored by the World Gold Council, followed by London and Johannesburg.

The gold ETF trades like any share and can be bought by investors through their stockbrokers.

According to experts the main issue is the amount of physical gold which investors are prepared to purchase.

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.

 

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