Newly launched gold-based exchange traded funds have spurred demand for the yellow metal and kept prices high, the head of the world's fifth largest gold miner said on Thursday, Reuters reports.

Gold ETFs offer a share in a bar of gold and are traded on stock exchanges across the globe, including the London, New York, Sydney and Johannesburg, the report said.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.