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ETF Securities lists Swiss vaulted gold ETC on LSE


ETF Securities has listed a Swiss vaulted exchange-traded product that follows the London Bullion Market Association “good delivery” standards on the London Stock Exchange.

The objective of ETFS Physical Swiss Gold is to reflect the performance of the price of gold bullion.

The ETC is open ended and is designed for investors to gain exposure into physical gold in a cost-effective and convenient way as well as diversify their gold holdings across issuer, custodian and geographies.

ETFS Physical Swiss Gold is backed by physical gold bullion held in fortified vaults in Zurich, Switzerland. Shares can only be issued when bullion is delivered into the trust account at the custodian’s vault, which is independently inspected twice a year by Inspectorate International. An appointed trustee must approve all deposits and withdrawals of bullion held by the custodian.

ETFS Physical Swiss Gold has no counterparty or credit risk as it is 100 per cent backed by LBMA good delivery bars, which differentiates it from other product offerings that achieve bullion exposure through the use of derivatives and unstamped gold. Gold that is not stamped with the required identifiers is not acceptable by the LBMA as good delivery as it would not meet the LBMA’s criteria for assaying standards and bar quality that must be satisfied.

Hector McNeil, global head of sales and marketing, says: “The launch of ETFS Physical Swiss Gold highlights ETF Securities’ continued thought leadership in gold ETFs globally. We are very proud to introduce the first ETC backed by physical LBMA gold held in Switzerland to the European market. Investors have been asking us for a long time to develop a product that stores its gold in Switzerland in addition to our current gold ETC which stores its gold in London (PHAU). As a result of that feedback, we are excited to be able to offer investors a new way to invest in the gold market and an efficient way to geographically diversify their gold holdings.”

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