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Xetra-Gold ends 2017 with record holdings of 175 tonnes of gold

Release date: 03 Jan 2018 | Deutsche Börse Commodities

Xetra-Gold ends 2017 with record holdings of 175 tonnes of gold

Germans continue investing heavily in gold / Increase of 57 tonnes over previous year / Europe's largest physically-backed gold security

The gold holdings of the Xetra-Gold physically-backed bearer note of 175.04 tonnes at the end of 2017 marks a new all-time high. That figure stood at just 117.59 at the end of 2016. The reserve increases when investors purchase Xetra-Gold units via the stock exchange. Each unit is backed by exactly one gram of physical gold stored in the German central vault for securities. Assets under management of Xetra-Gold are currently worth around €6.1 billion.

“The increase is due above all to the high demand from institutional investors. However, an increasing number of asset managers, family offices and retail investors are becoming interested in gold as an asset class,” commented Michael König, Managing Director of Deutsche Börse Commodities GmbH, issuer of Xetra-Gold. “With over 175 tonnes, Xetra-Gold is Europe's largest physically-backed gold security.”

Xetra-Gold has the highest turnover of all commodities traded on the Xetra venue – known as exchange traded commodities or ETCs. Order book turnover for 2017 as a whole amounted to €2.86 billion. Xetra-Gold investors are entitled to physical delivery of the certificated gold volume. Investors have exercised this right more than 970 times since Xetra-Gold was introduced in 2007, resulting in delivery totalling 4.9 tonnes of gold.

In September 2015, the Federal Fiscal Court announced that gains from the sale or redemption of Xetra-Gold after a holding period of one year would not be subject to capital gain compensa-tion tax (Abgeltungssteuer). Thus, for tax purposes, the purchase and redemption or sale of Xetra-Gold is to be treated as a direct purchase or direct sale of physical gold, as, for example, of gold bars or gold coins.

Further information is available at

Xetra® and Xetra-Gold® are registered trademarks of Deutsche Börse AG.

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

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.