Standard Bank to store gold in Asia for new Hong Kong EFT


Standard Bank will act as metal provider, participating dealer and market maker for a new gold exchange traded fund (ETF) to be launched in Hong Kong in early November, subject to final approval by Hong Kong regulators. This puts it on track to be the first gold ETF in Asia where the underlying gold will be physically held locally.

Standard Bank is a leading participant in physical and derivatives precious metals trading, handling close to 20% of annual gold demand in Asia alone, according to th