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Strategies & Market Trends : Ride the Tiger with CD

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To: Cogito Ergo Sum who wrote (26155)	2/28/2005 9:45:19 PM
From: russet	Read Replies (1) of 313660

The Globe and Mail reports in its Monday, Feb. 28, edition that gold mining companies can expect a surge in demand for bullion on the strength of explosive demand for gold-linked exchange traded funds, already the most successful such launch in financial history. The Globe's inside poopmeister Andrew Willis writes that the World Gold Council spent three years developing a new security that would pump up gold demand by giving investors the opportunity to buy bullion that trades on the New York Stock Exchange. The securities have now created demand for more than $2-billion (U.S.) of gold bullion. The StreetTRACKS Gold Trust was launched on the NYSE in November, along with Gold Bullion Securities on British and Australian exchanges. It was the first exchange traded fund linked to the price of a commodity. Other such funds have tracked stock indices. UBS Securities led the offering, and State Street Global Advisors runs the ETF program. In January, a unit of Barclays Bank debuted a rival gold-backed ETF. The ETFs represent new demand for what mining companies produce, as each time one of these securities is sold, the fund's backers set aside bullion in a bank vault.

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