SHANGHAI, Nov 1 Reuters China39;s biggest index provider launched on Wednesday two goldlinked stock indices to cash in on surging demand for exposure to the safehaven metal amid a slump in the local real estate market and volatile global markets.

The new indexes, launched by the China Securities Index Co, include shares of global gold miners such as Newmont Corporation and Barrick Gold .

The indexes offer a new method beyond traditional strategies, the governmentbacked 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.

Spot gold has gained more than 8 so far this year, rising to an almost sixmonth high of 2,009 an ounce last week. In yuan terms , it is up more than 15 for the year so far.

Miners, which typically pay dividends, have also seen their shares rise, with an index tracking Chinalisted gold miners up nearly 15, compared with an 8 drop in the benchmark CSI300 Index so far this year.

Gold is the brightest asset at the moment… promising much better returns than Chinese property or the broad stock marke6s as a safe haven against the backdrop of the Ukraine war, economic woes and the Middle East conflict.

The indices follow the launch of other Chinese goldrelated investment products that offer exposure in a country where gold consumption in the first three quarters of 2023 climbed 7.32.

China Asset Management Co and Maxwealth Fund Management Co last…