Indian regulator targets gold ETFs

The commission's concerns over the rapid growth of assets in gold ETFs are so great that it is also proposing to write to investors asking them to stop taking any further subscriptions, according to media reports. The letter came as the Indian National Stock Exchange (NSE) was preparing to launch futures and options based on Benchmark Asset Management's Gold BeES, the largest ETF of its kind in the country. The NSE has subsequently issued a circular stating that it will defer the listing of any derivatives based on gold ETFs in view of the concerns raised. It has given no indication o...