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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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From: Proud Deplorable	1/1/2006 4:56:12 PM
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&#9658GETF to scale up gold trading in exchanges PTI[ SUNDAY, JANUARY 01, 2006 11:15:34 AM] MUMBAI: The decision of Securities and Exchange Board of India (Sebi) to allow mutual funds to launch gold exchange-traded funds (GETF) would scale up the volume of the yellow metal traded on the commodity exchanges, feel analysts. "Commodities trading does not fit a retail client profile and one can hope that the wider participation of masses will indirectly help volumes in the commodity exchanges to grow," commodity analyst Si Kannan said. It is seen positive for the gold prices, he said. GETF is an exchange traded mutual fund unit listed and traded on stock exchanges. Every GETF unit represents a definite quantum of gold and the price of that gold unit moves in line with actual gold traded. Kannan said GETF will enable many households to buy and sell gold in units for as little as Rs 100 and trade it in the manner of mutual funds. Gold analyst T Gnanasekar said currently GETF would definitely help investors while commodity exchanges would benefit from it in the medium and long run. "Starting GETF is a testing period for the mutual fund operators," he said The SEBI announcement close to the end of the year was also well received by commodity exchanges. Multi Commodity Exchange (MCX) Chief Executive Officer Anjani Sinha believes GETF would definitely complement both mutual fund companies and exchanges. "It would create awareness about gold trading which would in long run scale up trading in gold," he added

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