WGC to launch Dubai gold ETF
Published on: August 01, 2008 at 18:35
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HONG KONG : The World Gold Council (WGC) on Friday said it plans to launch Dubai-listed exchange traded fund (ETF) during fourth quarter of this fiscal year.
Speaking to reporters here, James Burton, chief executive of the industry body said after the Dubai listing, which would be that exchange's first ever ETF, the WGC may take a pause.
I would say there are no gaps [in availability of gold ETFs in major markets]," he said in Hong Kong, where he was launching the SPDR Gold Trust.
"I had hoped or planned that we would have a consolidation year, where we just went and marketed, instead of this frantic listing that we've been doing. We've been doing it non-stop since mid-2002. There's some logic in giving it a rest for a year and then spend a bit of time marketing it," James Burton added.
As part of its effort to launch gold ETFs at major centers, the WGC on Thursday launched a listing in Hong Kong.
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