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A solution for those who want to trade and know there is an equivalent amount of real gold to match?
http://arabianmoney.net/2009/03/07/i...d-council-ceo/
http://arabianmoney.net/2009/03/07/i...d-council-ceo/
This is not a derivative product because it is 100 per cent backed by allocated gold held in vaults in London by HSBC, and audited both by traditional and shariah auditors.
It is important to understand the difference between unallocated and allocated gold. The Dubai ETF has allocated gold, so there is no third party acting between the metal and its owner. The ETF certificate is an entitlement to one-tenth of an ounce of gold.
It is important to understand the difference between unallocated and allocated gold. The Dubai ETF has allocated gold, so there is no third party acting between the metal and its owner. The ETF certificate is an entitlement to one-tenth of an ounce of gold.