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Sebi clamps down on launches of gold ETFs

Posted on 03 September 2013

Market regulator Sebi has clamped down on new launches of gold exchange traded funds (Gold-ETFs) as the product is seen to be fueling demand for the yellow metal and contributing significantly to the current account deficit. The market watchdog has turned down a number of applications for new gold ETFs though there is no formal change in the policy for these instruments that allow paper-investing in gold.
“All gold ETFs have to backed by physical gold and thus new products can also fuel demand…There is no policy decision but no new products are being approved,” a Sebi official said………………………………………..Full Article: Source


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