Albilad Gold ETF hits highest price since debut

11:47 AM (Mecca time) Argaam Special
Tadawul trading screen

Tadawul trading screen 

Albilad Gold ETF, listed on the Saudi Exchange (Tadawul), recorded today, Feb. 4, the highest price since listing at SAR 14.88.

 

The fund is currently trading up by 1%.

 

This rise in the fund’s value comes in line with the increase in gold prices during Feb. 3 trading, driven by demand for safe-haven assets amid the uncertainty surrounding the trade policies of the new US administration and their global market implications.

 

Gold futures for April delivery rose by 0.8%, or $22.1, to $2857.10 per ounce, marking a new record high.

 

Albilad Gold ETF is an open-ended traded fund that provides investors with a Shariah-compliant investment opportunity to invest in gold.

 

The fund closely tracks gold returns through its ETF structure, allowing units to be traded on Tadawul.

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