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VanEck Merk Gold Trust ETF (OUNZ) to track Solactive Gold Spot Index


Solactive has announced the launch of the Solactive Gold Spot Index (ticker: SOLAGOLD) in collaboration with Merk Investments. The index will serve as the reference price for the VanEck Merk Gold Trust ETF (ticker: OUNZ), which tracks the gold spot price, by holding physical gold.

Solactive writes that amidst today’s volatile and highly correlated bond and equity markets, commodities as an asset class provide investors with a much-needed portfolio diversification option. Due to a global regime characterised by rising interest rates and inflation, demand for products using gold as the underlying has increased across markets all over the world. Historically, gold prices have been uncorrelated to the stock market, and have typically risen during some of the worst market crashes, giving gold the ‘reputation’ of a safe-haven investment in the eyes of many investors.

The Solactive Gold Spot Index (SOLAGOLD) is designed to provide reliable and transparent time weighted gold spot price fixing (with a local NY 4PM close). It is a USD denominated index that tracks the daily gold spot price quoted as US Dollars per Troy Ounce using time weighted average prices between TWAP fixing start and TWAP fixing end time.

Timo Pfeiffer, CMO of Solactive, says: “We are excited to cooperate with Merk Investments and provide them with the optimal reference index for this important building block in their product offering. At Solactive our goal is to provide our clients with the exact indexing solutions they require across all asset classes including the commodity space.”

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