Gold Exchange Traded Fund, ETF
July 23, 2009
You may have been hearing more about Gold Exchange traded funds, or Gold ETF for short. The idea behind them was introduced in the early 2000s, and has since caught on with many investors. The idea was first introduced by Benchmark Asset Management Company in India.
The idea is to easily be able to own gold without physically bothering with it. In short a Gold ETF consists gold derivative contracts that are backed by gold.
One Gold Exchange Traded Fund that has caught the eye of many investors is Julius Baer after rising 5% the week to July 22. The amount of gold that the fund holds has increases quite drastically from 1.723 million ounces to 1.805 million ounces on July 22nd.
India Gold Exchange Traded Funds have also risen considerably in the past year.According to Reuters interview with fund manager Arvind Chari from Quantum Mutual Fund, “Investors have grown up by a 100 percent year-on-year”. he adds that they saw quite a bit of investor participation as well for the month of June.
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