Biggest Gold ETF Lists on Hong Kong Stock Exchange

Source:

James Burton, Chief Executive Officer, World Gold Council: "The listing of SPDR Gold Shares on to the HKEx is a significant landmark for all Hong Kong investors, providing them with an efficient means of investing in the gold bullion market through a security that is listed on a regulated stock exchange. "We have witnessed a significant increase in demand for gold from Hong Kong investors, with demand for gold at the retail level more than doubling in 2007."

Today, the world's biggest gold ETF, the World Gold Council sponsored SPDR Gold Trust, formerly known as StreetTracks, listed on the Hong Kong Stock Exchange (Ticker: 2840) and is the first gold-backed ETF to list there.

The SPDR Gold Trust marketed by State Street Global Advisors (SSgA), is designed to track the price of gold and trade like any stock on the exchange. The SPDR Gold Shares are backed by physical allocated gold bullion and will be denominated in Hong Kong Dollars. Investors can buy as little as one board lot of ten shares, with each share priced at approximately one-tenth of the spot price for an ounce of gold.

James Burton, Chief Executive Officer, World Gold Council, commented: "The listing of SPDR Gold Shares on to the HKEx is a significant landmark for all Hong Kong investors, providing them with an efficient means of investing in the gold bullion market through a security that is listed on a regulated stock exchange.

"We have witnessed a significant increase in demand for gold from Hong Kong investors, with demand for gold at the retail level more than doubling in 2007...

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