Xetra-Gold reaches new record holdings of 232 tonnes
The gold holdings of exchange-traded bearer bond Xetra-Gold have risen to a new record level of 232 tonnes.
This is an increase of 15.1 tonnes over the course of the year. At the beginning of January, 216.9 tonnes of gold were stored in the central vault for German securities.
The stock increases whenever investors buy Xetra-Gold shares on the stock exchange. For each unit certificate, exactly one gram of gold is deposited in the central vault. Xetra-Gold’s assets under management currently amount to €11.6 billion .
“The gold price had come under pressure due to the increase in real interest rates in the USA. Due to the rise in inflation and an attractive price level compared to other commodities, investors have now rediscovered gold as a tangible asset. Demand for Xetra-Gold has risen sharply, both from institutional and private investors. Our gold holdings have currently reached a new record of 232 tonnes,” says Steffen Orben, Managing Director of Deutsche Börse Commodities GmbH, the issuer of Xetra-Gold.
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 this right 1,545 times and a total of 6.9 tonnes of gold have been delivered. With a trading volume of €1.87 billion, Xetra-Gold ranks sixth among the most traded securities in the ETF & ETP segment on Xetra.
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. The purchase and redemption or selling of Xetra-Gold is thus 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.