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New Gold Exchange Traded Funds opens trading at Gh˘ 31.4
 
Posted on: 23-Aug-2012         Source: myjoyonline.com
 
 
 
The New Gold Exchange Traded funds has opened trading on the Ghana Stock Exchange with a marginal increase in its price.

The instrument which allows investors trade in the fund which is directly linked to the prices of Gold went up by 1 cedi 40 pesewas a few minutes after hitting the local bourse.

A unit of the fund is currently priced at 31 cedi 40 pesewas. Kwabena Osei Boateng with IC securities,sponsoring broker for the fun spoke to JOY-BUSINESS.

“The price is contingent on 3 factors which are always moving. They are the allocation factor or cost of running a project, the cedi-dollar rate and the price of gold” he noted.

Director General of the Securities and Exchange Commission, Adu Anane-Antwi tells JOY-BUSINESS, the product should bring some excitement on the market