Investors purchased gold-backed exchange traded fund (ETF) worth Sh91.7 million on Wednesday as they moved to hedge against volatility in global markets. They shifted 44,200 units of the Absa New Gold ETF at an average price of Sh2,075, realising the highest traded volume and value in a single day on the counter since the units […]
The Central Bank of Kenya is seeking to know the identity of big traders at the Absa’s gold-backed exchange-traded fund listed on the Nairobi Securities Exchange (NSE) after the counter picked up trades during the Covid-19 pandemic. The NSE notified traders to provide information directly to the banking regulator and identity of any investor buying […]
When Covid-19 came knocking, most investors were thrown into a panic mode. Some sold their shares as the rushed to find a safe haven to secure their wealth. Some rushed for the US dollar but the wise rushed for the gold. For centuries, gold has remained one of the most precious currencies in the world. […]
A staff at Nairobi Securities Exchange trading floor. FILE PHOTO | NMG The price of the New Gold ETF on the Nairobi Securities Exchange (NSE) rose to the highest level since listing last week as global demand for the commodity rose given the loss in the premium value of the dollar. Market players said they […]
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