Gold ETFs expected to start in India within month

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From Press Trust of India
Monday, January 10, 2007

MUMBAI -- Traditional household investment in gold will soon have a new option with the much awaited gold exchange-traded funds (GETFs) expected to be launched within a month.

"The GETF hopefully should be launched within a month," Association of Mutual Funds in India Chairman A.P. Kurian told reporters.

As per reports three mutual funds, Benchmark Mutual Fund, UTI Mutual Fund, and Kotak Mutual Funds have already filed offer documents for gold funds with the market regulator.

"Some of these funds will be launched positively before end of this financial year," he said.

Through GETF people can inveset in gold in small amounts over a period of time. And when they want to sell, they can either get gold or simply sell the units, he said.

A minimum of one gram of gold can be bought or sold through the schemes, enabling even the poor to buy the precious metal and plan their future needs, like buying wedding jewelleries.

The new fund will track international gold prices like the one prevailing on London Metal Exchange, Kurian said. SEBI has directed mutual funds to outsource services of a custodian for storage of physical gold from a third party since fund houses have no practical experience in storing the precious metal -- usually a custodian bank's job, he said.

In fact, Kotak Mutual Fund has already designated Deutsche Bank AG and Standard Chartered Bank as custodians for the proposed GETF scheme.

The appointed custodians will buy and sell gold as investors look at positions in the ETF.

Such a move will enable any household to buy and sell gold in units for as little as 1,000 rupees and these units could be traded in the same manner as mutual fund units, he said.

In UTI's proposed fund the units issued will be referred to as UTI Goldshare.

Investors who want a cost-effective and convenient way to invest in gold can get an instantaneous exposure to the physical asset.

Its units can be traded like a share and one can buy and sell them quickly at ruling market price, unlike physical gold, which can be sold only for a discount and by a cumbersome process.

HW

Really? When exactly? Thanks a lot.

金巴人

睡睡  在 2007-1-11 07:51 PM 發表:

From Press Trust of India
via NewKerala.com
Monday, January 10, 2007

MUMBAI -- Traditional household investment in gold will soon have a new option with the much awaited gold exchange-traded f ...

謝帖﹗

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HW  在 2007-1-11 19:55 發表:

Really? When exactly? Thanks a lot.

有网址 希望没有违版规

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Russian commercial banks can't get enough gold
Submitted by cpowell on Wed, 2007-01-10 21:41. Section: Daily Dispatches
From Interfax News Service
Monday, January 10, 2006

MOSCOW -- A total of 42 commercial banks signed contracts to buy 161.9 tonnes of gold from producers in 2006, a source at the Gokhran precious metals and gemstones repository told Interfax.

Not all of the gold will have been delivered by the end of last year, so there could be some discrepancy between the amount of gold ordered and actually received, the source said.

A total of 43 commercial banks signed contracts to buy 176.6 tonnes of gold from producers in 2005. Russia produced 168 tonnes of gold in 2005.

The Russian Gold Producers' Union has said it expected Russia to produce 165 tonnes of gold in 2006.

The Gokhran source said that 18 banks had so far ordered 56.3 tonnes of gold for 2007. "Some banks are already signing contracts for 2011," the source said.

Russia's biggest gold buyers are Vneshtorgbank, Sberbank, Rosbank, Zenit, UralSib, Gazprombank, Nomos Bank, Soyuz, Expobank, Lanta Bank, and Khanty-Mansiisk Bank.

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此条相关为昨晚俄央增加黄金储备消息

KBG

反斗星  在 2007-1-11 20:06 發表:

金ETFs 期望在月內在印度開始

從印度報業托拉斯
透過NewKerala.com
2007年1月10日，星期一

MUMBAI -- 道統的家庭對金的投資不久將有有很多等待的黃金外匯交易基金(GETFs)的一種新選擇 期望被在一個月 ...

反斗星,你D翻译比金山仲劲...给你加分!

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呵呵 翻译星？