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The Royal Mint to launch a gold ETC

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Gold-backed ETFs or ETCs hit their third straight month of momentum in August according to The World Gold Council, with USD6 billion of net inflows into the precious metal in ETC form.
 

Joining their ranks is a new gold-backed ETC from The Royal Mint, the UK’s coin producer, the first Sovereign Mint in Europe to launch such a product, leveraging off its 1,100-year reputation.
 
 
The gold-backed ETC will become The Royal Mint’s first listed financial product and is expected to list in the UK, Italy and Germany in early 2020. The Royal Mint is working in collaboration with European white labelling firm HANetf, to develop and launch the physically-backed gold ETC.
 
 
All of the physical gold associated with the ETC will be stored in The Royal Mint’s vault – one of the UK’s most secure sites, and guarded 24/7, the Royal Mint says.  The Royal Mint already offers a range of precious metals products including gold, silver and platinum in the form of bars and coins, as well as their ‘Signature’ product, which are available online.
 
Jatin Patel, head of wealth management at The Royal Mint says: “The Royal Mint has a long history of adapting to customer needs and providing a variety of opportunities for customers of all experience levels and budgets.”
 
Patel expects the ETC to appeal to both retail and institutional buyers who are looking to diversify their portfolios with precious metals.
 
The ETC announcement comes in the lead up to the five-year anniversary of The Royal Mint’s precious metals division in October 2019.
 
 

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