ETFS takes gold fund to Asia

The company says its product, listed today on NYSE Arca, is the first US precious metals product to be stored in Asia, although it will only use London Bullion Market Association (LBMA) approved vaults. The gold bars themselves will have to meet the LBMA's 'good delivery' standards and will be audited bi-annually by an independent third party, while the fund's physical holdings will be published daily on the ETF Securities website. The launch of ETFS Physical Asian Gold Shares comes after a year of strong flows into precious metal ETFs. The new fund joins the company's Swiss gold offe...