Al Bilad Investment Temporarily Changes Gold Pricing Source for its ETF

Alanbatnews -

Al Bilad Investment Company, acting as the fund manager for Al Bilad Gold ETF, has temporarily replaced the pricing source for spot gold contracts following disruptions related to the Dubai Gold and Commodities Exchange (DGCX) gold contract index.

The company stated that trading complications impacted the fund's asset valuation, leading to the change.

In a statement published on the Saudi Stock Exchange (Tadawul), Al Bilad Investment emphasized that the decision prioritizes the interests of unit holders and ensures maximum transparency.

The temporary measure aims to provide an updated valuation of the fund's net asset value, enabling investors to accurately assess their investments and trade units around the updated indicative unit price.

The fund's units will be valued by DGCX, the same service provider, to update the fund's net asset value at the end of each trading day.

The indicative unit price will be announced at least every 15 minutes during trading hours.

Al Bilad Investment affirmed its continuous monitoring of developments and coordination with relevant parties, adding that an announcement will be made once the pricing source returns to normal.