First physical gold ETC launched with The Royal Mint, and the only ETC backed by recycled gold.
Recycled Gold Allocation: 57.73% As of 14/10/2026
Our Partner
Gold held in custody at The Royal Mint
RMAU gold is custodied at The Royal Mint’s highly secure vault outside the London banking systems, providing an attractive option for investors seeking real diversification in their gold custody arrangements.
Responsible sourcing of gold
RMAU is 100% physically backed by LBMA post-2019 good delivery bars. Investors can uniquely redeem for physical gold from The Royal Mint. The physical gold ETC is also shariah compliant.
Recycled gold
The physical gold ETC is partially backed by 100% recycled gold bars. Recycled gold is far less carbon-intensive than mined gold.
Hedge against uncertainty
During periods of economic uncertainty, gold is often favoured. Its variable price can offset currency devaluations.
Responsibly sourced
Gold exposure can be sustainable. Exposure can be achieved through recycled gold, or gold that adheres to responsible sourcing criteria.
Growing demand
Gold has proven to be useful not only as an enduring store of value, but as a conductor, driving demand for the metal.
RMAU tracks the spot price of physical gold and offers investors access to the gold market, whilst also being shariah compliant. It is the first financial product to be sponsored by The Royal Mint. Uniquely, retail investors can redeem for physical bars and coins stored at The Royal Mint’s secure vault in Llantrisant, Wales. 100% of the gold custodied is backed by London Bullion Market Association (LBMA) post-2019 Good Delivery bars, of which approximately half of the gold is 100% recycled. Following the Russian invasion of Ukraine, all gold bars of Russian origin were removed from the Physical Gold ETC.
Key Risks
Investors’ capital is at risk and investors may not get back the amount originally invested and should obtain independent advice before making a decision. Any decision to invest should be based on the information contained in the relevant prospectus. ETC securities are structured as debt securities and not as shares (equity). For a complete overview of all the risks, please refer to the “Risk Factors” in the Prospectus.
Source of gold price: Bloomberg ticker XAU L150 Curncy, data as of 30.09.2026
Source of fund data: HANetf, data as of 30.09.2026.
Please note that all performance figures are showing net data. Past performance is not an indicator for future results and should not be the sole factor of consideration when selecting a product. Investors should read the prospectus of the Issuer (“Prospectus”) before investing and should refer to the section of the Prospectus entitled “Risk Factors” for further details of risks associated with an investment in this product. When you invest in Physical Gold ETCs your capital is at risk.
Physical gold exposure means gaining exposure to the price of gold through an investment structure backed by allocated physical gold held in secure storage. Unlike gold mining companies, where performance can be affected by factors such as production costs, management decisions and operational risks, physical gold exposure is primarily linked to movements in the gold price. Investors researching gold exposure should consider factors such as the structure, custody arrangements, costs and risks before making an investment decision.
Gold is often considered by investors as a potential diversification asset and a store of value. Its price can be influenced by factors including inflation expectations, interest rates, currency movements, central bank activity and geopolitical uncertainty. However, gold does not generate income such as dividends or interest, and its price can fluctuate significantly. Investors should consider how gold exposure aligns with their broader investment objectives and risk tolerance.
Physical gold exposure is linked primarily to the market price of gold, while gold mining companies are influenced by both gold prices and company-specific factors. Mining companies may be affected by production levels, operating costs, regulations, management decisions and geopolitical risks. As a result, gold mining shares may perform differently from the underlying gold price over time.
Gold prices are influenced by a range of factors, including interest rates, inflation expectations, currency movements, central bank demand, investor sentiment and global economic conditions. For example, changes in real interest rates can affect the attractiveness of holding an asset that does not generate income, while increased uncertainty may influence demand for gold as a potential defensive asset.
Gold is often viewed as a diversification asset because its performance drivers can differ from those of traditional assets such as equities and bonds. However, the relationship between gold and other asset classes can change over time, and gold prices can experience periods of volatility. Investors should consider the role of gold within a wider portfolio rather than assuming it will always provide protection during market declines.
Physical gold exposure is typically backed by allocated gold held in secure vaults with arrangements designed to safeguard the underlying assets. Allocated gold means specific gold bars are held on behalf of investors rather than representing a general claim on a pool of gold. Investors should review the relevant documentation to understand the custody arrangements, ownership structure and associated protections.
The main risks include fluctuations in the gold price, currency movements, liquidity considerations and the costs associated with holding gold exposure. Because gold does not generate income, returns depend on changes in its market value. Investors should also consider the structure of the investment vehicle, including fees, storage arrangements and any relevant counterparty risks.
Gold is sometimes considered an asset that may help preserve purchasing power over longer periods, particularly during periods of higher inflation. However, the relationship between inflation and gold is not consistent, and other factors such as interest rates, currency movements and investor demand can have a significant influence on gold prices. Past performance during inflationary periods does not guarantee future results.
Central banks are important participants in the global gold market and hold gold as part of their reserves. Changes in central bank buying or selling activity can influence demand and market sentiment. Alongside factors such as investor flows and jewellery demand, central bank activity is one of several factors that can affect the gold price.
Physical gold exposure differs from investing in gold mining companies, which are businesses involved in exploring, producing and processing gold. Some of the largest gold mining companies include Newmont Corporation, Barrick Gold Corporation and Agnico Eagle Mines Limited. These companies may benefit from higher gold prices, but their performance is also influenced by operational costs, production levels, reserves and company-specific factors.
Disclaimer: These FAQs have been generated with the assistance of AI and may contain errors or omissions. They are provided for general information only and do not constitute investment advice, a recommendation, or an invitation to buy or sell any investment.
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Explore the latest video explaining how The Royal Mint Responsibly Sourced Physical Gold ETC now comprises over 50% recycled metal.
About Partner
The Royal Mint has an unbroken history of minting British coinage dating back over 1,100 years. Based in the Tower of London for over 500 years, by 1812 The Royal Mint had moved out of the Tower to premises on London’s Tower Hill. In 1967 the building of a new Royal Mint began on its current site in South Wales, UK, to accommodate the minting of UK decimal coinage.
Throughout history The Royal Mint’s name has been synonymous with precious metals and bullion. The organisation trades physical and digital precious metal worldwide via www.royalmintbullion.com and a global network of distributor partners.
The Royal Mint has also diversified into a number of other complementary businesses, building on the values that have been at the heart of the organisation throughout its history – authenticity, security, precious metals, craftsmanship and design. www.royalmint.com
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