10.07.2013 - Gold in Japan ETF expands 10pct as price drop entices buyers
Japanís biggest bullion-backed exchange-traded fund expanded 10 percent this year by volume, bucking a global trend as lower prices and the yenís weakness spurred buying as a hedge against inflation. Bullion held by the ETF exceeded 6 metric tons on July 5, nearing a record reached in October, said Osamu Hoshi, general manager at Mitsubishi UFJ Trust and Banking Corp., which introduced the nationís first gold-backed ETF three years ago. The value of assets held by the fund declined 5 percent this year to July 5 as gold futures in yen slid 13 percent, he said...............................................Full Article: Source
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