Details are sketchy but the Toronto Stock Exchange (TSX) and rating and index agency Standard & Poors will develop a Global Gold Index to track the share prices of leading gold mining companies.
In its announcement, Standard & Poors spoke of creating “a leading global benchmark for gold portfolios,” that would provide a basis for fund houses to develop investments linked to the index. Standard & Poors is scheduled to release more details and a list of stocks it plans to include in the index before the end of the year.
The existing TSX Gold index, consisting only of gold stocks listed on the Exchange, is the basis for an exchange-traded fund managed by Barclays Global Investors, part of its iShares stable.
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