Albilad Gold ETF announces return to gold primary pricing source

Logo of Albilad Capital

Albilad Capital, fund manager of the Albilad Gold ETF, received a notice from the Dubai Gold and Commodities Exchange (DGCX) (reference market) stating that the market maker for the index has returned to normal operations.

Accordingly, the fund manager announced the discontinuation of the temporary alternative pricing source and the return to the primary pricing source for calculating the fund’s net asset value (NAV) and the indicative net asset value (iNAV). Besides, the updates from the fund’s main source have also resumed at 15-second intervals.

In a statement on Tadawul, the fund manager said it resumed normal operations, with the fund’s primary market activities (creation and redemption of units) restarting today, March 4.

Albilad Capital confirmed its ongoing monitoring of developments and coordination with the market maker and relevant parties, noting that unitholders and the market will be updated on any new developments in due course.

According to Argaam data, Albilad Capital announced on March 3 the temporary replacement of the pricing source for spot gold contracts linked to the spot gold price index applied on DGCX.

The decision followed a notice from DGCX stating that trading activities for spot gold contracts linked to the exchange’s spot gold price index had been disrupted and that the index’s market maker was unable to carry out certain activities related to market-making mechanisms on the exchange.