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Teuton Resources Corp V.TUO

Alternate Symbol(s):  TEUTF

Teuton Resources Corp. is a Canada-based exploration stage company. The Company is in the business of acquiring, exploring and dealing in mineral properties in the province of British Columbia, Canada. It owns interests in more than thirty properties in the prolific Golden Triangle area of northwest British Columbia. The Company’s property portfolio includes, Treaty Creek Property, Eskay Rift Property, Harry Property, Del Norte Property, Lord Nelson Property, Orion Property, Big Gold Property, Tonga Property, Fiji Property, King Tut Property, Tuck Property, High North Property, Delta Property, Fairweather Property, Tennyson Property, Pearson Property, Clone Property, Four J’s Property, Konkin Silver Property, Midas Property, Bay Silver Property, Bonsai Property, Gold Mountain Property, Ram Property, Silver Leduc Property, Stamp Property, and Treaty East Property. The Lord Nelson claims lie immediately north of Teuton’s Del Norte property.


TSXV:TUO - Post by User

Post by highperon Apr 08, 2024 3:08pm
158 Views
Post# 35977408

gold mania sighting in China WOOO HOOO

gold mania sighting in China WOOO HOOO

(Bloomberg) -- 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 CSI SH-SZ-HK 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 Monday. It was the second trading suspension for the product since last Tuesday.

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 Monday.

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.

https://finance.yahoo.com/news/chinese-fund-manager-halts-gold-023031590.html

In this article: 
 
 

(Bloomberg) -- 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.

Most Read from Bloomberg

Trading for the ChinaAMC CSI SH-SZ-HK 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 Monday. It was the second trading suspension for the product since last Tuesday.

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 Monday.

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.

“Gold is trading at an all time high and gold ETF demand has surged in the past week with almost $600 million of net inflows into gold ETFs globally,” said Rebecca Sin, a Bloomberg Intelligence analyst. “Demand in Mainland China could continue as investors look to diversify their holdings with commodities and foreign ETFs.”


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