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Friday, January 12, 2007

New Gold Funds?

The World Gold Council says it is ready to launch new gold-backed securities (like the GLD) in Italy, Germany Belgium, the Netherlands, Luxembourg and INDIA.

Hmm ... I wonder how much gold the 1 billion people in India might buy through an exchange-traded fund. We've already seen how much the gold ETFs boosted gold demand here in the US.

And here's an interesting factoid: "Investor purchases of gold through exchange-traded funds stands at 18 million ounces." That's according to

Still, no word on exactly when the World Gold Council might launch these funds. While they are "ready," it could take awhile.
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