Albilad Gold ETF temporarily replaces gold spot pricing source

Albilad Capital temporarily replaces pricing source for its Gold ETF’s spot contracts following trading disruptions on DGCX

Albilad Gold ETF will temporarily replace the pricing source for spot gold contracts linked to the spot gold price index in Dubai Gold and Commodities Exchange (DGCX), fund manager Albilad Capital announced in a statement to Tadawul.

The change is necessary to allow the DGCX to update the fund’s net asset value (NAV) at the end of the trading day and to announce the indicative net asset value (iNAV) at a maximum of every 15 minutes during the fund’s trading hours.

The measure seeks to protect the interests of unitholders and ensure transparency by providing an up-to-date NAV valuation. This allows investors to assess their investment in the fund and trade units around the updated iNAV price. The fund manager confirmed that it is continuously monitoring developments and coordinating with the relevant authorities, and an announcement will be made once the pricing source returns to normal.

On March 2, Albilad Capital said it received a written notice from the DGCX stating that trading activity in spot gold contracts linked to the exchange’s spot gold price index (the indicative index) has been disrupted, data compiled by Argaam showed.

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