Xetra-Gold closes 2020 with holdings of 216.9 tonnes

Release date: 05 Jan 2021 | Deutsche Börse Commodities

Xetra-Gold closes 2020 with holdings of 216.9 tonnes

Year-on-year increase of 13.7 tonnes / Europe's largest gold security with physical backing

The gold holdings of the exchange-traded bearer bond Xetra-Gold (ISIN: DE000A0S9GB0) increased to 216.9 tonnes at the end of the year 2020. This is a plus of 13.7 tonnes over the course of the year. At the beginning of 2020, 203.2 tonnes of gold were stored in the central vault for German securities in Frankfurt.

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. The assets under custody amounted to 10.7 billion euros at the end of the year. Xetra-Gold is thus the leading physically backed gold security in Europe.

“In 2020, we have once again achieved a record in the holdings of Xetra-Gold. The peak was reached in the summer, driven by the high level of uncertainty as a result of the pandemic,” says Steffen Orben, Managing Director of Deutsche Börse Commodities GmbH, the issuer of Xetra-Gold. “This has clearly shown that, in uncertain times, investors look for a safe haven that protects their capital from loss of value. In this respect, gold has always been very popular. The development in the past year also shows that gold has established itself as an independent asset class; not only among institutional investors, but also among asset managers, family offices and retail investors,” says Orben.

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 1,479 times. To date, 6.8 tonnes of gold have been delivered.

In September 2015, the German Federal Fiscal Court determined 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.

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.

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