Published Date: octobre 14, 2024
Author: HANetf
The investment case for currency hedged share class
Any gold investor de-facto expresses a view on 2 positions:
In an unhedged gold ETC, the investor could potentially benefit from both rising gold prices and strengthening of the US dollar.
An investor who only wants to benefit from the gold price rising and has no – or a negative – outlook on US-Dollar, needs to find a way to hedge their US-Dollar exposure. In a GBP hedged product, the US-Dollar positions cancel each other out. This would leave the investor solely exposed to gold prices, the desired outcome.
Illustration of FX hedging for a UK gold investor
The Royal Mint’s currency hedged range
The Royal Mint’s currency hedged gold ETCs have daily FX hedging. The day’s FX profit and loss is converted into gold, minimising FX hedge counterparty risk.
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