Standard & Poor’s and Toronto Stock Exchange operator TSX have announced plans to create the first real-time global gold index.
“Based in Canada, the new index will track key gold mining companies from around the globe,” they said.
The new S&P/TSX Global Gold Index will be available by the end of 2006. “Once launched, the index will serve as a leading global benchmark for gold portfolios, and further pave the way for the development of index-linked investment vehicles,” they added.“With gold prices soaring and increased interest in this asset class, real-time information on the world’s gold securities is extremely valuable and important,” said Steve Rive, S&P’s vice president of Canadian Index Services at Standard & Poor’s.
“The S&P/TSX Global Gold Index will be designed to be both investable and broadly representative of the investment opportunities available in the global gold market.”