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RBS Floats Gold Trendpilot ETN
RBS Securities, a subsidiary of Royal Bank of Scotland, has unveiled a new gold-based ETN.
RBS Securities, a subsidiary of Royal Bank of Scotland, has unveiled a new gold-based ETN, Index Universe reports. The RBS Gold Trendpilot ETN will be listed on the New York Stock Exchange’s Arca platform and track the performance of the RBS Gold Trendpilot Index.
The vehicle defines the price of gold bullion as the spot price of physical gold, as measured by the afternoon gold-fixing price for delivery in London through a member of the London Bullion Market Association. The index strategy seeks to lessen the volatility of the price of gold bullion by tracking the T-Bill Rate if the price of gold bullion is on a downward trend.
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