Gold, Commodities Blame Game?
See this story : Zimbabwe Jan-April gold output tumbles by a third
MUMBAI (Reuters) - Benchmark Asset Management Co. Pvt. Ltd. on Friday filed papers with India's market regulator for approval to launch an exchange-traded gold fund.
In its initial offer document, Benchmark said the fund would track the domestic prices by investing in physical gold.
Each unit of 'Gold Benchmark Exchange-Traded Scheme' would be equal to the price of one gram gold.
The unit would have a face-value of 100 rupees and priced around the value of gold, Benchmark said in a document filed with Securities and Exchange Board of India. (SEBI).
In January, SEBI allowed mutual funds to launch gold-backed schemes in a country which has a vibrant physical market fueled by tradition.
UTI Asset Management Co Pvt. Ltd. had also said it would launch an exchange-traded gold fund. - source
Rhodium Price ?