Another way to trade gold will be coming from Britain's Royal Mint in 2017.
US based CME will provide the trading platform and the Royal Mint will put gold bars into its on-site secure vault, which will then be digitised to create RMGs, (Royal Mint Gold), whose ownership will be recorded on the blockchain.

Unlike the traditional model for investing in gold, with management fees and storage charges, RMGs will offer ownership of the underlying gold with the option for conversion to physical gold by the Royal Mint at zero storage cost.

I RMG will equal 1 gram of gold, (1/31 of a troy oz) or about $38 at gold's current price of $1177.40. There is no indication yet of any premium that may be applied, but it is doubtful that trading will take place at spot value.



 


Comments

12/24/2016 4:21am

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03/14/2017 8:11am

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