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Half-year report: demand for Xetra-Gold picks up significantly in the first half of the year

Release date: 05 Jul 2021 | Deutsche Börse Commodities

Half-year report: demand for Xetra-Gold picks up significantly in the first half of the year

Increase of 16 tonnes since the beginning of the year / 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 233 tonnes as of 30 June. At the turn of the year, the volume was still at 217 tonnes of gold, which corresponds to an increase of 16 tonnes since the beginning of the year. Xetra-Gold is thus the leading physically deposited gold security in Europe.

Gold holdings increase whenever investors buy Xetra-Gold shares via the stock exchange. Each share certificate equals exactly one gram of gold. Xetra-Gold's assets under management also reached a new high of €11.2 billion.

"In the first half of the year, demand for Xetra-Gold picked up again, so that our gold holdings reached a new record of 233 tonnes. We are seeing increased demand from both institutional and private investors," said Michael König, Managing Director of Deutsche Börse Commodities GmbH, the issuer of Xetra-Gold. "In 2020, the volatility of the gold price was slightly higher, but in the first half of the year it was in line with the five-year level. Gold, with its stabilising and diversifying function in investors’ portfolios, is thus proving to be extremely consistent."

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 1,552 times. To date, 6.9 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. The purchase and redemption or selling of Xetra-Gold is thus 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 per cent backed by gold, which securitises 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 authorised 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.

Further information