Standard & Poor’s and TSX Group today announced plans to create the first real-time global gold index. Based in Canada, the new index will track key gold mining companies from around the globe.

The new S&P/TSX global gold index will be available by the end of 2006. Once launched, the index will serve as a leading global benchmark for gold portfolios, and further pave the way for the development of index-linked investment vehicles.

“With gold prices soaring and increased interest in this asset class, real-time information on the world’s gold securities is extremely valuable and important,” said Steve Rive, vp of Canadian index services at Standard & Poor’s, in a release. “The S&P/TSX global gold index will be designed to be both investable and broadly representative of the investment opportunities available in the global gold marketplace.”

TSX Group is home to approximately 60% of the world’s public mining companies and Canada has the world’s largest mining analyst community that covers issuers on both Toronto Stock Exchange and TSX Venture Exchange.