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China's latest investment frenzy sparks wild swings in gold ETF
By Charlotte Yang
Bloomberg News
via Yahoo Finance, Sunnyvale, California
An exchange-traded fund that owns gold companies has become the latest target of frenzied trading in China as investors pile into corners of the market seen as resilient to the country's economic challenges.
Trading for the ChinaAMC Gold Industry Equity ETF was halted until 10:30 a.m. Monday local time, in order to protect investors' interests, China Asset Management Co. said in a statement today. It was the second trading suspension for the product since last Tuesday.
... Dispatch continues below ...
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Guanajuato Silver Reports Best Ever Quarterly Production
Company Announcement
Friday, April 5, 2024
VANCOUVER, British Columbia, Canada -- Guanajuato Silver Co. Ltd. announces consolidated production results for the three months ended March 31, 2024. Production results are generated from the company's wholly owned El Cubo Mines Complex, Valenciana Mines Complex, and San Ignacio Mine in Guanajuato, Mexico, the El Horcon Mine in Jalisco, Mexico, and the Topia Mine in Durango, Mexico.
Production during the quarter of 987,312 silver-equivalent ounces is the best quarter in the company's history since production began at the company's El Cubo mines complex in Q4 2021. ...
James Anderson, chairman and CEO, said: "Q1 generated our best production performance to date and continues the trend of demonstrable quarter-over-quarter increases in precious metals production. ..."
... For the remainder of the announcement:
https://gsilver.com/news/2024/897-uanajuatoilvereportsestveruarterlyroduction20240405
The decision came after the fund's premium over its underlying assets increased to more than 30% as of April 3, the highest on record, Bloomberg-compiled data shows. The ETF's price had gained over 40% in the past four sessions before falling 10% after trading resumed today.
The ETF fervor is a fresh example of yield-hungry Chinese investors flocking to pockets of market strength as deepening property woes, volatile stocks, and falling deposit rates reduce their options. The enthusiasm about products tied to gold, which has staged a record-setting rally in recent weeks, also shows a desire to park money in a sector seen relatively immune to a struggling economy. ...
... For the remainder of the report:
https://finance.yahoo.com/news/chinese-fund-manager-halts-gold-023031590.html
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