Deutsche Börse Commodities has launched Europe’s leading gold-backed exchange-traded commodity (ETC) Xetra-Gold (ISIN: DE000A0S9GB0) in the Nordic countries Denmark, Finland, Norway and Sweden. The first broker to offer Xetra-Gold is Nordnet. Further brokers will follow soon.
Xetra-Gold is used by institutional and private investors to participate flexibly and cost-effectively in the development of the gold price. Each Xetra-Gold note grants the investor the right to the delivery of one gram of gold from the issuer or, if an investor is not permitted to take delivery of gold, to demand repayment of Xetra-Gold in cash at its repayment value.
Just recently, gold holdings of Xetra-Gold have exceeded the 200-ton mark for the first time. This is an increase of approx. 20 tonnes since the beginning of the year. The assets under custody currently amount to 8.6 billion euros. Xetra-Gold is thus the leading European gold security with which the precious metal is also physically deposited. Gold holdings increase when investors buy Xetra-Gold shares via the stock markets.
“We are very pleased to now also offer Xetra-Gold on the Nordic markets,” says Steffen Orben, Managing Director of Deutsche Börse Commodities GmbH, the issuer of Xetra-Gold. “Gold has developed into an independent asset class. Over recent years, we have seen a continuing demand for gold, which is coming both from institutional and private investors. More and more asset managers and family offices are also using gold to hedge their portfolios,” Orben continued.
“We see a high demand among the private savers to invest in products that follow the development of the gold price. We are proud to be the first broker in the Nordics to launch Xetra-Gold”, says Martin Ringberg, Country Manager Sweden at Nordnet.
Xetra-Gold is issued by Deutsche Börse Commodities GmbH, a joint venture of Deutsche Börse AG and Commerzbank AG, Deutsche Bank AG, DZ Bank AG Deutsche Zentral-Genossenschaftsbank, B. Metzler seel. Sohn & Co. KGaA and Vontobel Beteiligungen AG. Umicore AG & Co. KG, a group subsidiary of Umicore S.A., is also involved.