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Eldorado Gold Corp. Message Board

  • goldbulls_r_tough goldbulls_r_tough Jun 30, 2013 1:42 PM Flag

    China Gold ETF

    China's Gold ETFs "Will Boost Demand" in World #2

    Thursday, 6/13/2013 17:38

    Western investors "not wise" to dump gold positions on 2013 price drop...

    GOLD EXCHANGE-TRADED FUNDS are to be launched in China, the second largest consumer of gold.

    Exchange traded funds enable investors to track the gold price, minus expenses, by buying shares in a trust which holds physical bullion.

    China's new exchange-traded gold products will be traded like shares on the Shanghai Stock Exchange (SHCOMP), tracking movements of spot gold on the Shanghai Gold Exchange, say Liu Jianqiang and Li Yebin, spokesmen for Huaan Management Co. and Guotai Asset Management Co., the two companies who are starting the funds.

    "Gold ETFs should help boost gold demand as they will make Chinese investments in the bullion much easier," said Zhang Bingnan, secretary-general of the China Gold Association, to Bloomberg.

    Sentiment: Buy

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6.94-0.32(-4.41%)Sep 19 4:01 PMEDT

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