NewGold ETF runs out on high demand

New units of the Botswana Stock Exchange's gold ETF ran out on Monday, as domestic and offshore investors made a rush on local assets as part of a global turn to emerging markets, away from troubled Western economies.

Units of the NewGold ETF, a two-year-old instrument enabling tracking the gold price and backed by physical gold, ran out on the back of large trades on Monday, resulting in depletion of stock held at the BSE's Central Securities Depository.