Gold Exchange-traded Product
Gold exchange-traded products are exchange-traded funds (ETFs), closed-end funds (CEFs) and exchange-traded notes (ETNs) that aim to track the price of gold. Gold exchange-traded products are traded on the major stock exchanges including Zurich, Mumbai, London, Paris and New York. As of 25 June 2010 (2010 -06-25), physically backed funds held 2,062.6 tonnes of vaulted gold in total for private and institutional investors. Each gold ETF, ETN, and CEF has a different structure outlined in its prospectus. Some such instruments do not necessarily hold physical gold. For example, gold ETNs generally track the price of gold using derivatives.
Read more about Gold Exchange-traded Product: History, Fees, Hybrid Products
Famous quotes containing the words gold and/or product:
“‘She has got rings on every finger,
Round one of them she have got three.
She have gold enough around her middle
To buy Northumberland that belongs to thee.”
—Unknown. Young Beichan (l. 61–64)
“Poetry is the only life got, the only work done, the only pure product and free labor of man, performed only when he has put all the world under his feet, and conquered the last of his foes.”
—Henry David Thoreau (1817–1862)