16 December 2013 - China's third gold ETF in muted start as consumers prefer physical metal |
| 16 December 2013 - China's third gold ETF in muted start as consumers prefer physical metal Posted: 16 Dec 2013 02:00 AM PST * E Fund Gold ETF closes down 0.6 pct on first trading day * Bosera delays launch of gold ETF to next year * Chinese gold ETFs won't be as popular as physical gold -analyst By A. Ananthalakshmi SINGAPORE, Dec 16 (Reuters) - E Fund Management Co Ltd has launched China's third gold-backed exchange-traded fund (ETF) but, like its predecessors, the product has failed to make a splash as investors in the world's biggest bullion user show a preference for physical metal. E Fund Gold ETF began trading on Monday and saw its market value drop by 0.6 percent on the Shenzhen Stock Exchange. According to a statement published in state media, the fund raised 500.4 million yuan ($82.42 million), which at current prices would buy it just about 2 tonnes of gold. The muted response to 'paper' gold in China shows that investors there prefer owning physical gold assets at a time of weakening prices. Spot gold has tumbled 26 percent this year and is set to post its first annual fall in 13 years. Chinese regulators have given the go-ahead to four funds since June to launch bullion-backed ETFs. But the timing has proven to be bad as besides the gold price fall, investors in China have also faced tightening liquidity since mid-year. China's first two gold ETFs - HuaAn Gold ETF and Guotai Gold ETF - raised a total of 1.6 billion yuan in their initial funding round in July, below expectations. The world's biggest gold ETF, New York-based SPDR Gold Trust , holds 827.60 tonnes, after more than 450 tonnes of outflows this year. "I don't think the Chinese ETFs will be as popular as international ETFs such as SPDR, or physical gold," said Chen Min, an analyst at Jinrui Futures in Shenzhen. "The success of SPDR is mainly because it was launched when gold was in a bull market. But now gold is in a lackluster market and investor sentiment is bearish. Chinese people favor physical gold, like bars or jewellery." E Fund did not immediately respond to requests for comment. RECORD PHYSICAL DEMAND Chinese demand for physical gold has hit record highs this year and is set to top 1,000 tonnes. Bosera Funds, the fourth firm to get the OK from Chinese securities regulators to launch a gold fund, is yet to list the fund on the Shenzhen exchange. A Bosera spokesman said the ETF will begin trading only next year. The launch has been delayed due to falling gold prices and some other "complex" reasons, he said without elaborating. Bosera and E Fund were both given approvals in August. China has been easing rules this year regarding gold trade and investment. Other than ETF approvals, it has extended trading hours on the gold exchange and introduced a draft plan to allow more banks to import gold. ($1 = 6.0712 Chinese yuan) (Editing by Muralikumar Anantharaman) |
| 16 December 2013 - 《富爸爸穷爸爸》作者：要避免股票 投资贵金属 Posted: 16 Dec 2013 01:57 AM PST From:http://gold.jrj.com.cn/2013/12/16145716337768.shtml 《富爸爸穷爸爸》作者清崎（Robert Kiyosaki）在近日接受采访谈到了对2014年的展望。 清崎称自己的投资组合将由5%的股票、40%的房地产、25%的贵金属、20%的原油和10%的现金组成。 清崎说："随着黄金和白银价格的降低，我会持有比较多的实物黄金和白银。当股票市场下跌的时候，黄金和白银价格就可能创造新高。" 此外，清崎还认为在即将到来的2014年，自己会避免股票、债券、共同基金和ETF作为投资，"因为这些是纸资产，并非真的资产。" "就像是三只小猪的故事，"清崎说，"第一只小猪用稻草造房子，第二只小猪用木头造房子，而第三只小猪用砖头造房子。在我看来，第一只小猪代表着穷人，穷人们用纸造房子，他们努力工作赚钱存钱，他们的策略就是努力工作，努力省钱。然后大灰狼来了，这些小猪就变成了饿狼口中食。第二只小猪代表着中产阶级，他们用假象来建造房子，他们对工作保障、对福利对拥有自己的房子、对存钱有信心，也会投资股票、债券、共同基金和ETF来为自己的退休做准备。而当大灰狼，也就是新的衰退或者新的萧条在2015或者2035年间到来时，这些小猪也会成为饿狼口中食。第三只小猪则是企业家和专业投资者，他们用有形资产来造房子。他们对未来的投资是政治的资产而非纸资产，那么当衰退的大灰狼到来时，造砖房的他们会变得更富有。他们投资的有形资产诸如房地产、黄金、白银、原油和食品等都是他们能控制的。比起存钱，他们会存黄金和白银。" 清崎认为，如果真的要投资纸资产，就要学会成为期权交易者。 清崎称对于生于婴儿潮的几百万人都寄希望于股票市场为自己带来安全、稳定的退休生活他有所担忧。他认为这些人会遭遇困难。他更倾向于用黄金、白银、原油和食品等东西来构建自己的资产。 |
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