China, World’s Biggest Producer & Consumer of Gold, Will Introduce Gold ETFs
China’s securities regulator has released early rules for the operation of gold exchange traded funds in China. There is yet a timetable for the listing of gold ETFs in China – or mutual funds traded on stock exchanges – according to an official from the China Securities Regulatory Commission. Last year China introduced the SSE which was the first silver ETF product in China. In the months following the introduction of that product, silver remained in a corrective pattern.
Authorities will look into how to regulate gold ETFs, a product available in most of the world’s major financial markets, with a combined asset scale of about $140 billion at the end of July 2012. The statement by the securities regulator in China cited the nation’s rapidly growing gold market, as well as that the nation is the world’s biggest gold producer and consumer, as its gold output reaches 360.96 tonnes in 2011, according to the China gold association.
The value of gold product transactions surged 53.45 percent year on year to 2.48 trillion yuan ($395 billion) at the Shanghai Gold Exchange, the country’s major gold bourse, in 2011, the association said.
The introduction of a gold ETF in China will work to push the emerging middle class out of physical gold – as physical gold demand in China has been overwhelming – and into the derivative ETFs. H
The post China, World’s Biggest Producer & Consumer of Gold, Will Introduce Gold ETFs appeared first on Silver Vigilante.
2013-01-26 04:49:40
Source: http://silvervigilante.com/china-worlds-biggest-producer-consumer-of-gold-will-introduce-gold-etfs/
Source:
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).