Half-year report: Xetra-Gold holdings slightly decline to 227 tonnes

• – Decrease of four tonnes since the beginning of the year
• – Europe’s largest gold security with physical backing

The gold holdings of the exchange-traded bearer bond Xetra-Gold (ISIN: DE000A0S9GB0) decreased slightly to 227 tonnes as of 30 June 2023. This is a reduction of four tonnes compared to the beginning of the year. At the beginning of January 2023, the volume was at 231 tonnes of gold. Xetra-Gold is thus the leading physically backed gold security in Europe.

Xetra-Gold holdings always increase whenever investors buy Xetra-Gold shares on the stock markets. For each share certificate, exactly one gram of gold is deposited in the central vault. Xetra-Gold’s assets under custody amounted to €12.8 billion at the end of the first half-year.

„In the light of possible further adjustments of interest rates, pressure on the gold price is expected to increase. The slight decline of volumes compared to the beginning of the year may be explained by profit takings in this context. However, many investors fear a recession, which is technically already there. This speaks for gold as a save haven. Further the current price level just after a three-months low might be interpreted as a possibility for entry”, says Michael König, Managing Director of Deutsche Börse Commodities GmbH, the issuer of Xetra-Gold.

Xetra-Gold investors are entitled to the delivery of the securitised physical gold. Since the launch of Xetra-Gold in 2007, investors have made use of this right 1,786 times. To date, 7.8 tonnes of gold have been delivered.

In September 2015, the German Federal Fiscal Court determined that gains from the sale or redemption of Xetra-Gold after a minimum holding period of one year would not be subject to withholding tax. Thus, the purchase and redemption or selling of Xetra-Gold is to be assessed for tax purposes as a direct purchase and sale of physical gold – such as gold bars or gold coins.

Xetra-Gold is issued by Deutsche Börse Commodities GmbH, a joint venture of Deutsche Börse AG and Commerzbank AG, Deutsche Bank AG, DZ Bank AG Deutsche Zentral-Genossenschaftsbank, B. Metzler seel. Sohn & Co. KGaA and Vontobel Beteiligungen AG. Umicore AG & Co. KG, a group subsidiary of Umicore S.A., is also involved.

Further information can be found at www.xetra-gold.com.

About Xetra-Gold

Xetra-Gold® (ISIN: DE000A0S9GB0) is a bearer bond issued by Deutsche Börse Commodities GmbH, 100 percent backed by gold, which securitizes a delivery claim to physical gold. Each individual Xetra-Gold note grants the investor the right to require the issuer to deliver one gram of gold. For Xetra-Gold notes, the Issuer maintains a corresponding amount of gold in physical form and, to a limited extent, in the form of book gold claims. In the form of a security, Xetra-Gold is fungible and as easily transferable as a share. In addition to Germany, Xetra-Gold is authorized for public distribution in Denmark, Finland, Luxembourg, the Netherlands, Norway, Austria, Sweden and the United Kingdom. The complete and legally binding information on the Xetra-Gold bearer bonds can be found in the key information document and the prospectus together with any supplements and the terms and conditions of issue. Investors can obtain these documents free of charge from Deutsche Börse Commodities GmbH, Mergenthalerallee 61, 65760 Eschborn, Germany, or download them from www.xetra-gold.com/downloads.