Gold demand surges, ETFs rate high

Friday, August 27, 2010

Gold demand surged 36 percent in the second quarter of 2010 to 1 050 tonnes, according to data from the World Gold Council which added that gold-backed exchange traded funds (ETFs), which had helped drive the increase in demand, were now a widely accepted asset class.

ETFs contributed the most to higher gold demand in the period. Demand improved 414.3 percent to 291.3 tonnes, the second highest growth in quarterly demand for ETFs on record.

Marcus Grubb, managing director of investment for the council, said investors favoured ETFs because they were easy to own and accessible when compared to gold bars. "ETFs are not a speculative bubble," he said.

Already have an active account? Log in here.

Or Sign up and get unlimited access to premium articles.

Advancing social justice and decent work in Africa: A blueprint for change

FANFAN RWANYINDO KAYIRANGWA* | 2d ago

Staying safe amidst the electoral frenzy as journalists brace for October election

Thomas Nkhoma | 2d ago

Cultures Spears makes waves in the SA market

Lesedi Mkhutshwa | 2d ago

Sephobe for Miss Royal International Florida

Nnasaretha Kgamanyane | 2d ago

Threads of broken bonds

Henny Maruapula | 2d ago

Teen carves promising artistic path

Nnasaretha Kgamanyane | 2d ago

Mapantsola invade Ramokgonami

Nnasaretha Kgamanyane | 2d ago

Koolkat Motyiko's single unravels rich tribal music tapestry

Goitsemodimo Kaelo | 22 h ago

Stakeholders must step up veggie supply

The Ministry of Agriculture, local producers, retailers, and industry associations must work together to overcome the obstacles hindering vegetable production and distribution.This collaborative approach is essential to improve the availability, quality, and affordability of vegetables in the market.Firstly, the Ministry of Agriculture should provide support and guidance to local farmers to enhance their productivity and efficiency. This could...

The Monitor Editor | 29 April 2024

About us

Mmegi is the leading independent source of breaking news, latest news, current
affairs, Politics, Business, Sport, debates, analysis, and entertainment news in Botswana.

Explore

More

Gold demand surges, ETFs rate high

Gold demand surged 36 percent in the second quarter of 2010 to 1 050 tonnes, according to data from the World Gold Council which added that gold-backed exchange traded funds (ETFs), which had helped drive the increase in demand, were now a widely accepted asset class.

Advancing social justice and decent work in Africa: A blueprint for change

Staying safe amidst the electoral frenzy as journalists brace for October election

Cultures Spears makes waves in the SA market

Sephobe for Miss Royal International Florida

Threads of broken bonds

Teen carves promising artistic path

Mapantsola invade Ramokgonami

Koolkat Motyiko's single unravels rich tribal music tapestry

Stakeholders must step up veggie supply