By Summer Said
DUBAI (Reuters) - Dubai, already the region's gold trade hub, may see the launch of the Middle East's first gold exchange traded fund (ETF) in 2008, a senior World Gold Council (WGC) official said on Monday.
"Gold trade in Dubai and the region is definitely booming and the market players need an ETF market to manage their risk and catch up with other international markets," said Moaz Barakat, managing director of the WGC in the Middle East, Turkey and Pakistan.
"There is a great interest for ETFs in the region... We may have a Dubai ETF next year."
ETFs offer investors exposure in the underlying commodity without taking physical delivery. Sponsors of gold ETFs buy a matching amount of the commodity from the market to keep in vaults.
"It will be linked to a dollar-based gold price, but it has not been decided yet if it will be listed on the Dubai Gold and Commodities Exchange or the Dubai International Finance Exchange," he said.
source
Showing posts with label DGCX. Show all posts
Showing posts with label DGCX. Show all posts
Tuesday, July 31, 2007
Wednesday, July 04, 2007
Recommended Readings
Individual gold trade this month
By Wang Lan (China Daily)
Updated: 2007-07-04 08:51
The beginning of gold trading by individual investors on the Shanghai Gold Exchange (SGE) later this month is expected to provide a welcome alternative at a time of high stock market volatility. -link
RTS Realtime Systems Group Offers Connectivity To Dubai Gold & Commodities Exchange
03/07/07
RTS Realtime Systems Group (RTS), a leading independent software vendor, announced that the firm is now offering access to the Dubai Gold & Commodities Exchange (DGCX). The move expands the RTS presence in the Middle East and further strengthens its leadership position in electronic trading software, with thousands of user connections to more than 85 exchanges and liquidity pools throughout the world.
-link
Warehouses to help stabilise gold prices
(03-07-2007)
The International Gold Council this year estimates that demand for gold in Viet Nam could reach 70-80 tonnes. A Brink’s Viet Nam representative, Ben Van Kerkwijk predicts in the short run demand will accelerate. - link
GLOBAL EXODUS FROM THE US DOLLAR IN MOTION by Gary Dorsch -link
The Silver Millionaire By David Morgan - link
By Wang Lan (China Daily)
Updated: 2007-07-04 08:51
The beginning of gold trading by individual investors on the Shanghai Gold Exchange (SGE) later this month is expected to provide a welcome alternative at a time of high stock market volatility. -link
RTS Realtime Systems Group Offers Connectivity To Dubai Gold & Commodities Exchange
03/07/07
RTS Realtime Systems Group (RTS), a leading independent software vendor, announced that the firm is now offering access to the Dubai Gold & Commodities Exchange (DGCX). The move expands the RTS presence in the Middle East and further strengthens its leadership position in electronic trading software, with thousands of user connections to more than 85 exchanges and liquidity pools throughout the world.
-link
Warehouses to help stabilise gold prices
(03-07-2007)
The International Gold Council this year estimates that demand for gold in Viet Nam could reach 70-80 tonnes. A Brink’s Viet Nam representative, Ben Van Kerkwijk predicts in the short run demand will accelerate. - link
GLOBAL EXODUS FROM THE US DOLLAR IN MOTION by Gary Dorsch -link
The Silver Millionaire By David Morgan - link
Monday, March 27, 2006
Gold and Silver news
Gold is currently trading higher then Friday high. Silver is also higher, making a multi year high again...
As I posted a several time in the past: each and every self respected exchange will soon offer gold and silver trading / saving instruments. Here are some of the important news which directly effect gold and silver:
Dubai commodity bourse to begin silver futures trading today
Dubai: The DGCX Silver Futures Contracts, to be launched today, will be a 1,000 troy ounce contract with maturities in March, July, September and December each year.
On maturity of a futures contract, the open position would be settled through delivery of 30 kg silver bars from 10 approved brands complying with Dubai Good Delivery standards. source
Taiwan gold futures end firmer on first day
TAIPEI (Reuters) - Taiwan's first gold futures contract closed firmer on the first day of trade on Monday, with investors watching to see if volumes would be high enough to attract continued interest.
The most active June contract closed at US$564.1 per ounce, off an intraday peak of $572.2, but up from an open of $550.0 an ounce on volume of 278 lots. source
It is extremely bullish when a multi bullion guaranteed free cash flow entity (like the CB of china) has a buying interest in your saving asset :
China should tap FX reserves to buy gold
BEIJING, March 27 (Reuters) - China should use part of its fast-growing foreign exchange reserves to buy gold as it seeks to adjust the asset mix to hedge against risk, a Bank of China official was quoted on Monday as saying.
Analysts say China has been gradually diversifying away from the dollar -- although fears of a collapse in the U.S. currency will prevent any dramatic shift. Chinese officials have denied reports they plan to sell current dollar assets in the reserves.
"China should appropriately reduce the proportion of dollars in its foreign exchange reserves while increasing the proportion of currencies such as the euro," the Financial News quoted Wang Yuanlong, a director at Bank of China's Australian operations, as saying.
"We can use part of the foreign exchange reserves to buy gold, which would help make the reserves more diversified and help guarantee and increase their value," said Wang, former economist at Bank of China, the country's largest foreign exchange bank.
China's foreign exchange reserves swelled 34 percent in 2005 to a record $818.9 billion, but the central bank has not disclosed the composition. source
As I posted a several time in the past: each and every self respected exchange will soon offer gold and silver trading / saving instruments. Here are some of the important news which directly effect gold and silver:
Dubai commodity bourse to begin silver futures trading today
Dubai: The DGCX Silver Futures Contracts, to be launched today, will be a 1,000 troy ounce contract with maturities in March, July, September and December each year.
On maturity of a futures contract, the open position would be settled through delivery of 30 kg silver bars from 10 approved brands complying with Dubai Good Delivery standards. source
Taiwan gold futures end firmer on first day
TAIPEI (Reuters) - Taiwan's first gold futures contract closed firmer on the first day of trade on Monday, with investors watching to see if volumes would be high enough to attract continued interest.
The most active June contract closed at US$564.1 per ounce, off an intraday peak of $572.2, but up from an open of $550.0 an ounce on volume of 278 lots. source
It is extremely bullish when a multi bullion guaranteed free cash flow entity (like the CB of china) has a buying interest in your saving asset :
China should tap FX reserves to buy gold
BEIJING, March 27 (Reuters) - China should use part of its fast-growing foreign exchange reserves to buy gold as it seeks to adjust the asset mix to hedge against risk, a Bank of China official was quoted on Monday as saying.
Analysts say China has been gradually diversifying away from the dollar -- although fears of a collapse in the U.S. currency will prevent any dramatic shift. Chinese officials have denied reports they plan to sell current dollar assets in the reserves.
"China should appropriately reduce the proportion of dollars in its foreign exchange reserves while increasing the proportion of currencies such as the euro," the Financial News quoted Wang Yuanlong, a director at Bank of China's Australian operations, as saying.
"We can use part of the foreign exchange reserves to buy gold, which would help make the reserves more diversified and help guarantee and increase their value," said Wang, former economist at Bank of China, the country's largest foreign exchange bank.
China's foreign exchange reserves swelled 34 percent in 2005 to a record $818.9 billion, but the central bank has not disclosed the composition. source
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