Britain's Royal Mint launches gold-backed securities tradable on London Stock Exchange
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LONDON (Reuters) - Britain's 1,100-year-old Royal Mint said on Monday it will launch an exchange-traded product this week backed by physical gold held in its vault in Wales, which will trade on the London Stock Exchange. Gold exchange-traded products, which issue securities backed by metal they buy and store on behalf of investors, have become big business since the first was launched in the early 2000s. They now hold almost 3,000 tonnes of gold worldwide, worth around $140 billion at current..