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Article: Gold ETC slow to take off in Gulf: exec.
- Article from:
- TradeArabia (Manama, Bahrain)
- Article date:
- October 29, 2009
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Byline: Dubai
The Gulf region's first gold exchange traded commodity (ETC), a new investment vehicle launched earlier this year, is seeing only modest growth due to regional unfamiliarity with the product.
Grant Collins, senior managing director of the Dubai Commodity Asset Management, told Reuters the security was also hampered by a trend for bullion investment in the Middle East to come from individuals rather than institutions or funds.
Collins told the Reuters Middle East Investment Summit that the group may not have realised just how much people preferred to have the gold rather than a gold-backed product.
The Dubai Multi ...