Xetra-Gold holdings rise to 181.47 tonnes at year-end

Release date: 03 Jan 2019 | Deutsche Börse Commodities

Xetra-Gold holdings rise to 181.47 tonnes at year-end

Year-on-year increase of seven tonnes / Europe's largest gold security with physical backing

The gold holdings of the exchange-traded bearer bond Xetra-Gold (ISIN: DE000A0S9GB0) increased to 181.47 tonnes at the end of the year 2018. This is a plus of more than seven tonnes over the course of the year. At the beginning of 2018, 174.24 tonnes of gold were stored in the central vault for German securities in Frankfurt.

The assets under custody currently amount to 6.6 billion euros. Xetra-Gold is thus the leading physically backed gold security in Europe.

Xetra-Gold holdings always increase when investors buy Xetra-Gold shares via the stock market. Exactly one gram of gold is deposited in the central safe for each share certificate.

"Particularly in the fourth quarter the demand for Xetra-Gold rose significantly," says Steffen Orben, Managing Director of Deutsche Börse Commodities GmbH, the issuer of Xetra-Gold. At the end of September, the rate of the precious metal turned around and the price of gold in euros has risen by more than ten percent since then.

"The uncertainty on the markets remains unchanged for the time being, that is why we continue to expect lively interest in gold. In addition, more and more asset managers, family offices and retail investors are showing interest in gold as a separate asset class," Orben continues.

Of all commodities traded on the Xetra exchange, Xetra-Gold is the security with the highest order book volumes. In 2018 the turnover was around €2.66 billion, especially in December trading was extremely popular with a volume of €335 million.

Xetra-Gold investors are entitled to delivery of the securitised physical gold. Since the introduction of Xetra-Gold in 2007, investors have made use of it more than 1,000 times. To date, 4.95 tonnes of gold have been delivered.

In September 2015, the German Federal Fiscal Court announced that gains from the sale or redemption of Xetra-Gold after a minimum holding period of one year would not be subject to withholding tax. Thus, the purchase and redemption or selling of Xetra-Gold is to be assessed for tax purposes as a direct purchase and sale of physical gold – such as gold bars or gold coins.

Media footage can be downloaded here.

About Xetra-Gold

Xetra Gold (ISIN: DE000A0S9GB0) is a 100% gold-backed bearer note issued by Deutsche Börse Commodities GmbH that grants the right to physical delivery of gold. Each individual Xetra-Gold note grants the investor the right to demand the delivery of one gram of physical gold from the issuer. The issuer holds a corresponding amount of physical gold and a limited amount of gold leaf rights for each Xetra Gold note. The fact that Xetra-Gold takes the form of a security makes it fungible and as easy to transfer as a share. Insurance undertakings in Germany are also allowed to purchase Xetra-Gold for their restricted assets in the amount of up to five percent of their commodities investment. The international derivatives exchange Eurex offers futures and options on Xetra-Gold. Xetra-Gold is admitted for sale to the public in Austria, Luxembourg and the UK, as well as Germany. The full details on Xetra-Gold bearer notes, particularly on the terms and conditions, as well as on the issuer, can be found in the prospectus. The prospect including supplements or updates can be obtained free of charge at Deutsche Börse Commodities GmbH, Mergenthalerallee 61, 65760 Eschborn, Germany, or downloaded under www.xetra-gold.com.

About Deutsche Börse Commodities GmbH

Xetra-Gold issuer Deutsche Börse Commodities GmbH, based in Eschborn/Frankfurt, is a joint venture between Deutsche Börse AG and banking partners Commerzbank AG, Deutsche Bank AG, DZ Bank AG, B. Metzler seel. Sohn & Co. KGaA, and Swiss-based bank Vontobel. Umicore AG & Co. KG, a Group subsidiary of Umicore s.a. which operates several gold refineries across the globe and manufactures gold bars, is also a partner. The issuer’s sole business purpose is to provide the market with Xetra-Gold, the bearer note backed 100 percent by physical gold, and to enable efficient, transparent and cost-effective trading of this securitisation of physical gold.

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