23
September
Gold ETF Assets Jump 55% in 2009 on ‘Fear’ Demand, Council Says
23 September 2009 Bloomberg.com
Assets held by exchange-traded funds backed by gold bullion jumped 55 percent in 2009 as financial turmoil and inflation concerns boosted the metal’s appeal as an alternative investment, the World Gold Council said.
The value of the assets climbed to $51.4 billion as of Aug. 31, said Jason Toussaint, the council’s managing director of exchange-traded bullion. That compares with $33.1 billion on Dec. 31. The SPDR Gold Trust, the world’s biggest bullion-backed ETF, jumped 50 percent to $32.6 billion this year through August.
http://www.bloomberg.com/apps/news?pid=20601012&sid=a.AdtpScDPXI
