Holding gold in a balanced portfolio can provide useful diversification benefits, and historically has maintained a low correlation with most major asset classes.
Gold is often more sought-after when conditions are increasingly uncertain, or more volatile elsewhere. Unprecedented events, like the COVID-19 pandemic, can drive investors to search for relative “safe havens” such as gold.
Gold could be useful as an inflation hedge when inflation comes as a “shock” due to external factors, when prices escalate faster than expected or when central bank measures are ineffective.
Our Invesco Physical Gold ETC provides one of the lowest overall cost exposures to the gold price in Europe. With more than US$14 billion of assets[1], it is also the largest gold product in Europe, enabling you to gain exposure to price movements without having to buy and store physical gold yourself. For investors also wishing to minimise their currency risk, we offer a currency-hedged series in GBP and EUR.
Our ETC aims to provide the performance of the LBMA Gold Price PM, less the fixed fee of 0.12% per annum. Investments are backed by physical gold bars, placed in segregated accounts, and stored securely in the London vaults of J.P. Morgan Chase Bank. Our ETC trades on multiple exchanges across Europe, is UCITS eligible and Shariah compliant. Find out more in our Gold ETC brochure.
With over 14 years of efficient tracking1
One of the lowest-cost ETCs in Europe1
Available at the same low cost of 0.12% p.a
For complete information on risks, refer to the legal documents.
Applies to Invesco Physical Gold ETC, Invesco Physical Gold EUR Hedged ETC and Invesco Physical Gold GBP Hedged ETC - Value fluctuation, Limited recourse, Commodities.
Applies to only Invesco Physical Gold EUR Hedged ETC and Invesco Physical Gold GBP Hedged ETC - Currency hedging - ETFs.
Monthly gold update
The gold price was little changed in June, down just 0.2% despite a pause in gold purchases by the People’s Bank of China and surprisingly strong non-farm payrolls data. Discover insights into the key macro events and what we think you should be keeping your eyes on in the near term.
Gold’s supply and demand in Q4 2023
In this second part of the Gold Report, we explore the various sources of supply and demand to further explain recent movements in the gold price.
You can invest in our Invesco Physical Gold ETC via your usual broker or trading platform and hold it in a standard brokerage or custodial account.
Our Capital Markets teams provide a free service to help you find the most suitable and cost-effective way to buy, sell or switch products.
Email: etftrading@invesco.com
Telephone: +44 (0)20 3370 1195
Complete the form to receive our latest gold insights, including our quarterly gold report, monthly update, gold brochure and relevant product information.
Exchange-Traded Commodities or “ETCs”, are investment vehicles that trade on stock exchanges and track the performance of an individual commodity or basket of commodities. With ETCs, investors can get exposure to spot commodity prices, without taking physical delivery of those commodities.
Our ETC is physically backed by gold bullion (a Gold Bar List is available on our website) which is stored securely in J.P. Morgan’s London Bank vaults. The gold is inspected twice a year by Inspectorate International Limited and includes a full bar count. Once a year they are accompanied by our auditors, PricewaterhouseCoopers.
The inspection reports and the annual audit reports are available on our website at etf.invesco.com.
Yes, it is possible to receive the metal in unallocated form if you have an LBMA clearing account. When you sell your holding, you may have the option of Physical Settlement if you do not want to take the normal Cash Settlement.
Physical delivery can be made only to a holder that is not a UCITS fund. You must specify the number and account name of an unallocated account in London with a member of the LBMA where the relevant delivery amount should be delivered. Investors that are UCITS funds are not permitted to receive physical delivery of gold. UCITS funds can only redeem for cash.
Invesco Physical Gold ETC is not a fund or an ETF, as the ETC invests in only one asset, i.e. gold, it would not meet UCITS rules on diversification that are required for a fund. The certificates are transferable securities, therefore not shares in a collective investment scheme.
For investors who wish to minimize their currency risk, we have currency-hedged share classes available in GBP and EUR.
Yes, it is possible to receive the metal in unallocated form if you have an LBMA clearing account. When you sell your holding, you may have the option of Physical Settlement if you do not want to take the normal Cash Settlement. Physical delivery can be made only to a holder that is not a UCITS fund. You must specify the number and account name of an unallocated account in London with a member of the LBMA where the relevant delivery amount should be delivered.
Investors that are UCITS funds are not permitted to receive physical delivery of gold. UCITS funds can only redeem for cash.
The LBMA is a trade association that acts as the coordinator for activities conducted on behalf of its members and other participants in the London Bullion Market.
The gold price is determined via an electronic auction that takes place twice per day in London, at 10:30 am and 3:00 pm GMT, and quoted in US dollars per fine troy ounce. The LBMA Gold Price is a fully transparent benchmark and widely accepted as the basis for pricing spot transactions.
Our Gold ETC offers direct exposure to the price of gold. Our low annual fixed fee of 0.12% allows for our ETC to have tight tracking of the spot gold price.
Invesco Physical Gold ETC seeks to minimise exposure to gold mined prior to the 2012 introduction of the LBMA’s Responsible Gold Guidance. Our holdings are currently 100%2 post-2012 gold bars and our aim is to maintain this by only accepting post-2012 gold for new creations. For more details, see our responsible gold page.
1 Invesco, as at 31 May 2024.
Value fluctuation: The value of investments, and any income from them, will fluctuate. This may partly be the result of changes in exchange rates. Investors may not get back the full amount invested.
Limited recourse: If the issuer cannot pay the specified return, the precious metal will be used to repay investors. Investors will have no claim on the other assets of the Issuer.
Commodities: Instruments providing exposure to commodities are generally considered to be high risk which means there is a greater risk of large fluctuations in the value of the instrument.
Currency hedging – ETCs: Currency hedging between the currency in which the underlying precious metal is typically quoted and the currency of the certificates may not completely eliminate the currency fluctuations between those two currencies and may affect the performance of the certificates.
Data as at 31.05.2024, unless otherwise stated. By accepting this material, you consent to communicate with us in English, unless you inform us otherwise. This is marketing material and not financial advice. It is not intended as a recommendation to buy or sell any particular asset class, security or strategy. Regulatory requirements that require impartiality of investment/investment strategy recommendations are therefore not applicable nor are any prohibitions to trade before publication.
Views and opinions are based on current market conditions and are subject to change. All investment decisions must be based only on the most up to date legal offering documents. The legal offering documents (Key Information Document (KID), Base Prospectus and financial statements) are available free of charge at our website www.invesco.eu and from the issuers.
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