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Invesco reduces fee on gold ETC

Gold exchange-traded commodity Invesco has reduced the annual fixed fee on its US$7.6 billion (€6.9 billion) physical gold exchange-traded commodity (ETC).

The fee has been reduced from 0.24% to 0.19% which means, according to Invesco, that the ETC offers investors the lowest total cost exposure to the price of gold of any competing gold exchange-traded product in Europe.

Demand for gold escalated in 2019, with central banks being net buyers for the tenth consecutive year and the amount held by investors in gold ETPs reached an all-time high.

US$19.3 billion worth of gold ETPs (representing more than 400 tonnes) was purchased globally in 2019, with US$8.8 billion of this into Europe-listed products.

Chris Mellor, Invesco’s head of Emea ETF Commodity Product Management, said, “Investors have been turning to gold to provide a potential cushion in case of equity market volatility and concerns about slowing global growth and geopolitical risks.”

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