Monday, January 30, 2012

Hang Seng Bank to Launch Yuan-Denominated Gold ETF

The trend to trash the dollar continues.

The Hang Seng Bank is launching a yuan-denominated gold ETF in February. 

Dow Jones reports, “The ETF, which provides returns in yuan, will closely track the performance of the London Gold Fixing Price in U.S. dollars, said Hang Seng Bank."

It will be the first yuan denominated ETF in Hong Kong.

Read Full Article on FoxNews