I have no trouble finding it on my phone
I found this in the doc of the zkb, so I understand the hedging is mostly against USD:
Gold does not have a nominal currency, and the liquid assets and claims will not normally assume significant proportions. As the international gold markets are currently quoted largely in US dollars, unit classes which are not denominated in the reference currency US dollar pose a currency risk for investors. Gold investments, liquid assets and claims are not hedged against the reference currency of the unit classes in the case of unit classes EA, EA CHF, EA USD, EA EUR and EA GBP. In the case of unit classes EAH CHF, EAH USD, EAH EUR and EAH GBP, whose reference currency is the Swiss franc, US dollar, euro or pound sterling, the currency risk associated with the US dollar or the investment currency is optimally hedged against the respective - 17 - reference currency. This hedging can offset the consequences of a collapse in the value of the US dollar or the investment currency versus the reference currency of the hedged unit class (Swiss franc, euro or pound sterling). Hedging may, however, involve considerable ongoing costs. Moreover, an investor who invests directly in a physical precious metal is frequently exposed unhedged to the risk inherent in the main trading currency. Investors are therefore urged to give thorough consideration to the suitability of the choice of currency-hedged class.
Yeah I really don’t know why this even exists ![]()
