Almost 200 tons of Xetra-Gold, Europe's largest gold security with physical deposit, was stored in the vault at the turn of the year.
4 January 2024. FRANKFURT (Börse Frankfurt). The gold holdings of the exchange-traded bearer bond Xetra-Gold (DE000A0S9GB0) fell to 198.7 tons at the end of 2023. This is a decrease of 31.5 tons over the course of the year. At the beginning of 2023, the stock had stood at 230.2 tons of gold. Over the five-year period, this represents an increase of 9.1 tons.
"In our 2023 portfolio development, we see a normal reaction of investors to the market environment. The turnaround in interest rates has created new, short-term yield opportunities. In addition, the gold price in euros was higher than ever before. In our view, however, gold remains an interesting long-term investment with a stable value and is indispensable as an addition to any well-structured portfolio," says Dr. Michael König, Managing Director of Deutsche Börse Commodities GmbH, issuer of Xetra-Gold.
Xetra-Gold is the fifth largest gold ETF in the world and Europe's largest gold security with physical backing. The holding increases whenever investors buy Xetra-Gold units via the stock exchange. Exactly one gram of gold is deposited in the central vault for each unit certificate. Xetra-Gold's assets under management amounted to €11.9 billion at the end of the year.
Xetra-Gold investors are entitled to delivery of the securitized physical gold. Since the introduction of Xetra-Gold in 2007, investors have made use of this 1,819 times. A total of 7.9 tons of gold have been delivered.
In September 2015, the Federal Fiscal Court ruled that gains from the sale or redemption of Xetra-Gold are not subject to withholding tax after a minimum holding period of one year. This means that the purchase and redemption or sale are to be assessed for tax purposes as a direct purchase and direct sale of physical gold - such as gold bars or gold coins.
Xetra-Gold is issued by Deutsche Börse Commodities GmbH, a joint venture between Deutsche Börse and its banking partners Commerzbank, Deutsche Bank, DZ Bank, B. Metzler seel. Sohn & Co. and the Swiss bank Vontobel. The gold producer Umicore is also involved.
4 January 2024, © Deutsche Börse AG