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Half-year report: Xetra-Gold achieves all-time high in gold holdings with 221.7 tons

Release date: 02 Jul 2020 | Deutsche Börse Commodities

Half-year report: Xetra-Gold achieves all-time high in gold holdings with 221.7 tons

Growth of 18.5 tons year-to-date / Europe's largest gold security with physical deposit

The gold holdings of the exchange-traded Xetra-Gold bearer bond (ISIN: DE000A0S9GB0) rose to a new record of 221.7 tons as of 30 June. This is an increase of 18.5 tons over the course of the year. At the beginning of the year, 203.2 tons of gold were stored in the central vault for German securities. This makes Xetra-Gold the leading physically deposited gold security in Europe.

Gold holdings increase whenever investors buy Xetra-Gold shares via the stock exchange. Exactly one gram of gold is deposited in the central vault for each unit certificate. After the recent strong increase in the gold price, the assets managed by Xetra-Gold currently amount to €11.3 billion, which is also a new all-time high.

“In the first half of the year, gold performed quite similarly to the stock markets. In March, the price of gold fell from around 50 euros per gram to 42 euros, in May we saw new highs at 52 euros”, said Steffen Orben, Managing Director of Deutsche Börse Commodities GmbH, the issuer of Xetra-Gold. “The main reason for this is the high level of uncertainty in the markets, which we believe will remain for the time being. We therefore expect continued lively interest in gold. In addition, more and more asset managers, family offices and private investors are showing interest in gold as a separate asset class. The proportion of private and institutional investors is roughly balanced," Orben continues.

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 1,220 times. To date, 5.9 tons 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.

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.


Further information can be found at www.xetra-gold.com.


About Xetra-Gold

Xetra-Gold® (ISIN: DE000A0S9GB0) is a bearer bond issued by Deutsche Börse Commodities GmbH, 100 percent backed by gold, which securitizes a delivery claim to physical gold. Each individual Xetra-Gold note grants the investor the right to require the issuer to deliver one gram of gold. For Xetra-Gold notes, the Issuer maintains a corresponding amount of gold in physical form and, to a limited extent, in the form of book gold claims. In the form of a security, Xetra-Gold is fungible and as easily transferable as a share. In addition to Germany, Xetra-Gold is authorized for public distribution in Denmark, Finland, Luxembourg, the Netherlands, Norway, Austria, Sweden and the United Kingdom. The complete and legally binding information on the Xetra-Gold bearer bonds can be found in the key information document and the prospectus together with any supplements and the terms and conditions of issue. Investors can obtain these documents free of charge from Deutsche Börse Commodities GmbH, Mergenthalerallee 61, 65760 Eschborn, Germany, or download them from www.xetra-gold.com/downloads.

About Deutsche Börse Commodities GmbH

The Xetra-Gold Issuer Deutsche Börse Commodities GmbH with its registered office in Eschborn is a joint venture of B. Metzler seel. Sohn & Co. KGaA, Commerzbank Aktiengesellschaft, Deutsche Bank AG, Deutsche Börse AG, DZ Bank AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main, Umicore AG & Co. KG and Vontobel Beteiligungen AG. Umicore AG & Co. KG is a subsidiary of Umicore S.A., which operates several gold refineries worldwide and produces gold bars. The issuer's sole business purpose is to provide the market with the 100 percent gold backed Xetra-Gold bond and to enable efficient, transparent and cost-effective trading of this physical form of gold securitisation.