Figures from Gold Bullion Securities and US investment bank Morgan Stanley suggest sales of gold-linked exchange traded funds (ETFs) is booming as the price remains near two-decade highs.
GBS, the dual UK-Australia listed company that enables investors to buy exposure to gold held in trust has seen sales rise 25% in the past two months. The company has seen close to $800m in gold bought this way in the past 11 months. Added to similarly listed companies or trusts in Canada and Australia, there is approaching $1.2bn in assets held this way, with a daily trading turnover of more than $12m. Gold currently trades at $428 per Troy ounce on the London market, according to Bloomberg figures. IFAonline
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