https://www.miningweekly.com
Business|Gold|Products
Business|Gold|Products
business|gold|products

Royal Mint launches gold-backed securities tradable on London Stock Exchange

17th February 2020

By: Reuters

  

Font size: - +

LONDON – Britain's 1 100-year-old Royal Mint said on Monday it will launch an exchange-traded product this week backed by physical gold held in its vault in Wales, which will trade on the London Stock Exchange.

Gold exchange-traded products, which issue securities backed by metal they buy and store on behalf of investors, have become big business since the first was launched in the early 2000s.

They now hold almost 3 000 t of gold worldwide, worth around $140-billion at current prices, according to the World Gold Council.

The mint said its product will have a management fee of 0.22% per year of the value of an investment, putting it towards the low-cost end of the market.

The Royal Mint was forced in 2018 to freeze plans for a digital gold token after the UK government vetoed a proposal to have it trade on a cryptocurrency exchange, Reuters reported at the time.

Edited by Reuters

Comments

Projects

Image of lithium ore
Bougouni lithium project, Mali – update
Updated 2 hours 17 minutes ago By: Sheila Barradas

Showroom

Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 
Stewarts & Lloyds
Stewarts & Lloyds

Stewarts & Lloyds today supplies steel and tube, pipe and fittings, valves, pumps, irrigation, fencing, profiling and roofing products. The cash...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hyphen, Eva mine, ferrochrome price make headlines
Hyphen, Eva mine, ferrochrome price make headlines
27th March 2024
Resources Watch
Resources Watch
27th March 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.197 0.233s - 90pq - 2rq
Subscribe Now