The long wait for a new listed gold investment product backed by the World Gold Council and State Street Securities may soon be over, with the US Securities and Exchange Commission expected to approve the product, a first of its kind to be listed on a US stock exchange.

The WGC, an industry body financed by some of the world's largest gold miners, and State Street, the US group, are expected to meet next week to finalise details of a marketing programme for the new product, which will allow investors to buy gold without worrying about storage, insurance or transportation costs, or the risk of margin calls associated with gold futures.