JERSEY CITY, N.J., Nov. 28, 2016 /PRNewswire/ -- BNY Mellon's Pershing today announced that they have launched BMO ® Gold Deposit Receipts (GOLDRs ®), a book-entry solution for investors who want bullion in their brokerage account without experiencing the inconveniences that typically accompany purchasing and storage. GOLDRs represents one of many solutions offered to Pershing clients who are seeking to serve the financial needs of high-net-worth investors. GOLDRs ®, which may be held within a brokerage account, represent an investor's ownership in one ounce of fully-allocated physical gold bullion held at the Royal Canadian Mint. The bullion is stored in a regulated gold depository backed by the Canadian government, with no annual fees, tracking errors or derivatives that may be found in gold tracking exchange-traded funds (ETFs). The solution is the first of its kind to allow bullion to be held in a brokerage account, providing new opportunities for advisors to offer an alternative means for their clients to invest in gold, outside of traditional ETFs or private storage. As part of the offering, bullion can be conveniently redeemed for cash at spot market levels twice a day and can be delivered to an investor upon request. In addition, there are no investment minimums to take advantage of this solution, and investors can purchase gold bullion in quantities as small as a single ounce on the spot market. "This is an innovative solution that has been developed to provide investors with easy access to physical gold; with a number of benefits relative to both private storage and gold tracking ETFs, including no annual fees," said John Goodheart, managing director of trading services at Pershing.