VanEck launches Gold Bullion ETF

Oksana Patron

7 December 2022

VanEck Gold Bullion exchange traded fund (ETF), which is physically backed by gold bullion sourced from Aussie gold producers and can be converted by investors from their ETF holdings into physical gold at the Perth Mint, will list on the Australian Securities Exchange (ASX) on Wednesday under the NUGG code.

The new fund would extend the firm’s gold investing, which stretched over 50 years and encompassed gold equities and bullion across ETFs and active funds, and would be the firm’s 32^nd ETF listed on the ASX, VanEck’s chief executive and managing director, Asia Pacific, Arian Neiron, said.

“VanEck launched the US’s first gold equity fund in 1968, and that fund is still around today. Our gold miners ETF (GDX), since its launch in 2006, is one of the most actively traded ETFs in the world,” he added.

“Investors are increasingly looking for transparency for their precious metals purchases. The gold bullion that physically backs NUGG, is held in a vault at The Perth Mint and is sourced from Australian gold producers. A list of the allocated gold bars that make up the Fund’s assets will be made available on our website daily.

“NUGG’s launch is timely given the financial and political uncertainty the world faces. History has shown, when confidence erodes, or when there is extreme volatility in markets, investors turn to gold. Importantly, with NUGG investors can gain confidence from the ability to physically access the gold from The Perth Mint, gold that is Australian sourced.”