Dukascopy opens Gold Accounts
Clients may open self-trader and current accounts in non-deliverable gold (XAU London).
Dukascopy Bank gold accounts are an alternative to the purchase of physical gold. The investor benefits by holding gold without the need to physically store it and from attractive exchange rates which are offered by Dukascopy Bank when an XAU account is funded or withdrawn from.
Funding / withdrawing from a gold account can be done in one of the following currencies: USD, CHF, EUR, GBP, JPY, AUD, CAD, DKK, HKD, MXN, NOK, NZD, PLN, RUB, SEK, SGD, TRY or ZAR. The related exchanges are done at very competitive rates.
According to an accepted market practice, XAU accounts are subject to interest charge. Gold accounts with Dukascopy Bank are guaranteed up to CHF 100’000 (the same as other bank deposits).
Physical gold cannot be withdrawn from the gold account; instead, the holder will receive its equivalent in any currency listed above. The possibility to transfer non-deliverable XAU or to convert holdings into physical gold is subject to negotiations.
Source: DukasCopy
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