ETF Securities has launched a gold backed ETC on the London Stock Exchange.
The ETFS Physical Swiss Gold is 100% backed by allocated physical gold bullion that meets London Bullion Market Association (LBMA) good delivery standards. The gold is held in vaults in Zurich, Switzerland. The security is designed to return the spot price of gold, less fees, which is referenced against a daily fixing price issued by LBMA. The firm says shares can only be issued when bullion is delivered into the trust account at the custodian's vault, which has an appointed trustee to approve all deposits and withdrawals of bullion. The security will also undergo a bi-annual inspe...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes