Albilad Capital says unable to update Albilad Gold ETF assets

Logo of Albilad Capital

Albilad Capital, the fund manager of Albilad Gold ETF, said it has received a written notice from the Dubai Gold & Commodities Exchange (DGCX) stating that trading activity in spot gold contracts linked to the exchange’s spot gold price index (the indicative index) has been disrupted.

The index’s market maker has been unable to carry out certain activities related to the market-making mechanism at the exchange, the company said.

As a result, the fund manager is currently unable to update the pricing of the fund’s assets. This affects the calculation of the indicative net asset value per unit (INAV) and the net asset value (NAV), as the gold contract price used for valuation reflects the last traded price on the exchange as of Friday, Feb. 27, 2026, Albilad Capital said in a statement to Tadawul.

Albilad Capital also said it received a letter from the market maker of Albilad Gold ETF stating that, due to the disruption in trading of the spot gold price index at the reference market, it has been unable to perform certain market-making activities.

The market maker said that because ETF market making depends on access to reference markets linked to the fund’s underlying assets to execute the creation and redemption of units, it is currently not possible to create new units and inject them into the secondary market. This may affect its ability to perform its duties efficiently.

The market maker confirmed its commitment to applicable rules and regulations issued by the Capital Market Authority and Tadawul.

For its part, the fund manager said it is closely monitoring developments and coordinating with the market maker and other relevant parties. The issuance of new units will resume once the causes of the disruption in the reference market cease, with a separate announcement to be made when primary market activity returns to normal.

Earlier on Tuesday, Tadawul announced it had suspended trading in units of Albilad Gold ETF on March 3 until the close of the session at the issuer’s request, ahead of the announcement of a material event, according to Argaam data. Trading in the units will resume on Tuesday, March 3, 2026.

Before the halt, Albilad Gold ETF units were trading at SAR 32.14, up 8%. About 1.4 million units were traded, with a total value of SAR 44.3 million.