China Approves Its First Gold Bullion ETFs

``Demand for actual physical gold has been booming in Asia as the price has been falling. But it's not clear that will translate to demand for the new gold ETFs, which will be based on spot gold prices on the Shanghai Gold Exchange.'' -- No word as of yet on how "legit" this is likely to be. The SGE price is definitely more real than the COMEX-based (US) price, however.