Will a government guarantee for an exchange-traded fund be enough to lure investors back to gold?
On Wednesday, Australia’s Perth Mint Physical Gold ETF, the first with bullion holdings guaranteed by a sovereign entity, will start trading on the New York Stock Exchange. The fund, backed by physical metal of at least 99.5 percent purity, debuts at a time when investors are fleeing the asset class, taking holdings in all ETFs tracked by Bloomberg to a seven-month low.
“We believe investors will have greater confidence with the knowledge that their wealth is physically stored in one of the most secure central bank-grade vaults in the southern hemisphere,” Richard Hayes, the Perth Mint’s chief executive officer, said in a statement. “AAAU is a truly unique offering for investors as it adds a new layer to hard asset investing in the United States,” he said, referring to the ETF by its ticker.
The ETF allows holders to exchange their shares for gold. Investors can get the physical metal delivered to their doorstep by Perth Mint, which refines and manufactures precious metals product.
Texas Precious Metals Depository announces the addition of New Direction IRA - a provider of self-directed IRAs, 401(k)s, health savings accounts (HSAs), and other such tax-advantaged savings vehicles – as a preferred custodian for self-directed IRA services at its new storage facility. In conjunction with New Direction, Texas Precious Metals Depository (TPMD) will complement the retail services provided by Texas Precious Metals to meet the needs of precious metals IRA investors.
Private storage facility for gold, silver, platinum and palladium bullion offers fully segregated storage and state-of-the-art security; largest in South Texas
Texas Precious Metals, a leading online precious metals company, has announced the opening of its private underground bullion depository. The facility is entombed in concrete with three layers of concentric protection, bulletproof doors at all access points, armed security, and 24/7/365 interior and exterior surveillance. Texas Precious Metals Depository is also monitored remotely by county and city law enforcement, who are situated within one mile of the facility, and is 100% insured by Lloyd’s of London.
Gold 2048 brings together industry-leading experts from across the globe to analyze how the gold market is set to evolve in the next 30 years.
Key insights from authors such as George Magnus, senior economist; Rick Lacaille, Global Chief Investment Officer of State Street Global Advisors; and Michelle Ash, Chief Innovation Officer at Barrick Gold include:
- The expanding middle class in China and India, combined with broader economic growth, will have a significant impact on gold demand.
- Use of gold across energy, healthcare, and technology is changing rapidly. Gold’s position as a material of choice is expected to continue and evolve over the coming decades.
- Mobile apps for gold investment, which allow individuals to buy, sell, invest and gift gold will develop rapidly in India and China.
- Environmental, social and governance issues will play an increasing role in re-shaping mining production methods.
- The gold mining industry will have to grapple with the challenge of producing similar levels of gold over the next 30 years to match the volume it has historically delivered.
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U.S. retail investors are losing their appetite for physical gold as buoyant stock markets offer tempting alternatives, sending sales of newly minted coins to their lowest in a decade.
More and more coins are also being sold back onto the market, further eroding demand for newly minted products.
The University of Texas Investment Management Co. will examine its $1 billion gold position in the portfolio of the largest public university endowment in the U.S.
“We’re in no rush to sell but it may not be a long-term strategic hold,” Britt Harris, the new chief executive officer at Utimco, said Thursday during a break at a board meeting in Austin. The endowment is also looking at fixed-income investments because of their poor returns, Harris said.
The gold position is about 3 percent of the portfolio. Utimco oversees $31 billion in assets for the University of Texas and Texas A&M University as of Dec. 31. It manages another $12.3 billion in operating funds.
Gold demand rallied in the closing months of 2017, gaining 6% year-on-year (y-o-y) to 1,095.8 tonnes (t) in Q4. But it was too little, too late: full-year demand fell by 7% to 4,071.7t. ETF inflows, although positive, lagged behind 2016’s stellar growth. Central banks added 371.4t to global official gold reserves, 5% down on 2016’s net purchases. Bar and coin demand fell 2% on a sharp drop in US retail investment. India and China led a 4% recovery in jewellery, although demand remains below historical averages. Increased use of gold in smartphones and vehicles sparked the first year of growth in technology demand since 2010.
Australia's biggest gold refiner, the Perth Mint, is developing its own cryptocurrency backed by physical precious metals.
The ambitious plan, which is subject to a confidentiality agreement, will make it easier for consumers to buy gold.
The mint also plans to make use of blockchain technology, first used as the core component of the digital currency Bitcoin, where it works as a public ledger for transactions.
Orders placed and funded on or before Wednesday, December 20th will ship no later than Thursday, December 21st. We will not ship any orders from December 22nd-December 26th.
UPS Next Day Air
For orders of $1,000 or more, we offer free shipping via UPS Next Day Air. Estimated transit time is 1 day. We expect orders that are placed and funded on or before Wednesday, December 20th to arrive in time for Christmas.
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For orders between $100 and $1,000, we offer free shipping through UPS SurePost. Estimated transit time is 3-5 days. Orders placed between now and December 23rd are unlikely to arrive in time for Christmas. If you need your order before the holiday, please upgrade your shipping method to Second Day Air and place and fund your order before December 20th.
UPS Mail Innovations
For orders less than $100, we offer free shipping through UPS Mail Innovations. Estimated transit time is 5-7 days. Orders placed between now and December 23rd are unlikely to arrive in time for Christmas. If you need your order before the holiday, please upgrade your shipping method to Second Day Air and place and fund your order before December 20th.
For last minute gifts, another option is our Amazon store. The products we sell on Amazon ship from Amazon's fulfillment centers and qualify for Amazon Prime.