China is likely to launch its first exchange traded funds backed by physical gold this year, boosting demand for the metal, according to the World Gold Council.
“We do expect that you will see potentially more than one physical gold ETF in 2013,” said Marcus Grubb, managing director for investment at the WGC, a lobby group backed by the mining industry.
The launch of gold ETFs in China has been hotly anticipated by some gold bulls, who believe it could trigger a new wave of demand.
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