Gold ETF reaches record levels

The gold ETF, which is sponsored by ABSA Capital, tracks the price of gold and is supported by physical gold assets. One security or unit in the ETF is equivalent to one one-hundredth of a gold ounce and is tradable like other equities on the Botswana Stock Exchange.

Since its listing last July, the ETF reached its previous record high last month at P92.25, with the lowest being P78.20 recorded in late July 2010. Since January, the ETF has been trading consistently above P90, spurred on by the metal's record-breaking performance during which it topped US$1,400 an ounce for the first time in history.