Deutsche Boerse Commodities has unveiled a gold-backed ETC in the UK, with reduced management charges.
The Xetra-Gold product is a security, rather than a fund, in the form of a bearer note that is always 100% backed by the precious metal. Each unit of the bearer note issued confers investors the right to demand delivery of one gram of gold. The gold reserve for Xetra-Gold is currently around 50 tonnes, worth €1.6bn at current prices. The firm says Xetra-Gold does not charge any ongoing maintenance fees or front-end load for investments, ensuring that the investor's gold holdings remain secure and stable. Deutsche Boerse Commodities managing director Steffen Orben says: "If an inves...
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