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Strategies & Market Trends : Greater China Junior Stocks -- Ignore unavailable to you. Want to Upgrade?

To: Julius Wong who wrote (1122)	2/10/2006 7:29:14 AM
From: Julius Wong	Respond to of 1992

China Gold Association eyes gold investment fund SHANGHAI (Reuters) - The China Gold Association is considering setting up a gold investment fund, a senior association official told Reuters on Friday, to tap rising interest in gold as an investment. The price of gold hit its highest in 25 years last week, spurred by geo-political tensions, rising energy costs, worries about the outlook for the U.S. dollar and increased interest in commodities as an asset class. Chinese interest in investing in gold has been piqued by the strong international prices, and domestic banks have begun offering "paper gold" and other investment options to their depositors. The Shanghai Gold Exchange opened in 2002, and prices there closely track international levels. "It's an idea we are thinking about. The details haven't been decided yet," association vice president Hou Huimin. State media have reported that the fund would pool between 500 million and 1 billion yuan, and would be set up with unspecified partners. It would trade in gold products on the Shanghai Gold Exchange, and eventually overseas and domestic futures, the reports said. China doesn't currently have a gold futures contract.