ABSA NewGold ETF

The ABSA NewGold ETF (GLD) is an exchange-traded fund listed on the Nairobi Securities Exchange (NSE) that provides investors with a simple and cost-efficient way to gain exposure to physical gold bullion. Each security represents approximately 1/100th of a troy ounce of gold, fully backed by physical gold held in secure vaults by custodian ICBC Standard Bank in London. The ETF tracks the spot price of gold in real-time, denominated in Kenyan Shillings (KES) based on the international USD gold price, and trades like a regular equity security without intra-day price limits.

Originally launched by Barclays (now Absa) as …