Switzerland’s Zürcher Kantonalbank has made its gold and silver ETFs, already available denominated in Swiss francs, through US dollar and euro share classes traded on the SIX Swiss E
Switzerland’s Zürcher Kantonalbank has made its gold and silver ETFs, already available denominated in Swiss francs, through US dollar and euro share classes traded on the SIX Swiss Exchange.
The bank’s gold and silver ETFs are fully backed by physical metal. A dollar or euro share in the ZKB Gold ETF is equivalent to approximately one ounce of gold, while a share in the ZKB Silver ETF is equivalent to approximately 100 ounces of the metal.
According to Zürcher Kantonalbank, the addition of the dollar and euro share classes will make its precious metals ETFs an attractive investment opportunity for investors using currencies other than Swiss francs.
The bank also has palladium and platinum ETFs that for the time being are only accessible through Swiss franc investments.
Investors in the ETFs have the option of redeeming their shares against physical delivery of the precious metal in question. Physical gold and silver is delivered in standard ingots of 12.5 and 30 kilos respectively.
As of January 13 the Zürcher Kantonalbank precious metal ETFs had investment volumes of CHF2.9bn for gold, CHF408m for silver, CHF136m for platinum and CHF113m for palladium.
