Xetra-Gold holdings rise by more than 50 per cent since the beginning of the year

The gold held in custody by Deutsche Börse Commodities GmbH for the purpose of physically backing the Xetra-Gold bond has risen to a new record high of 90.67 tons, an increase of more than 50 per cent since the beginning of the year. For each Xetra-Gold bond, exactly one gram of gold is deposited in the central vaults for German securities in Frankfurt.  

Among all exchange-traded commodities (ETCs) tradable on Xetra, Xetra-Gold is by far the most successful in terms of turnover. During the first seven months of the year, order book turnover on Xetra stood at approximately €1.5 billion. The assets managed by Xetra-Gold currently amount to €3.5 billion.

Xetra-Gold investors are entitled to the delivery of the certified amount of physical gold at any time. Since the introduction of Xetra-Gold in 2007, investors have exercised this right 900 times, with a total of 4.5 tons of gold delivered.

In September 2015, the German Federal Fiscal Court (Bundesfinanzhof) had ruled that after a minimum holding period, any profits from the sale or redemption of Xetra-Gold are not subject to the capital gains tax. From a fiscal point of view, the purchase, redemption or sale are thus to be treated equal to a direct purchase or sale of physical gold, such as in bullions or coins.