China firm launches stock indices to tap into rush for safe-haven gold

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SHANGHAI - China's biggest index provider launched on Wednesday two gold-linked stock indices to cash in on surging demand for exposure to the safe-haven metal amid a slump in the local real estate market and volatile global markets.

"The indexes offer a new method beyond traditional strategies," the government-backed index company said in a statement."It provides the market with more tools to invest in the gold business, and can help households better manage their wealth." Miners, which typically pay dividends, have also seen their shares rise, with an index tracking China-listed gold miners up nearly 15%, compared with an 8% drop in the benchmark CSI300 Index so far this year.

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