22.02.2006
First gold-ETF in Switzerland
According to the Swiss financial weekly Finanz und Wirtschaft, the Zurich Cantonal Bank will issue the first Swiss Exchange Traded Fund (ETF) on gold at the end of February.
Trading activitiy in gold-based ETFs on other global exchanges such as New York or London already amounts to a total of 429 tons of gold which represents a value of around $ 7.5 bln according to a statement made by the World Gold Council last Tuesday.
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