The WisdomTree Physical Swiss Gold Exchange Traded Commodity is available in trading currencies of both GBP (SGBX.L) and USD (SGBS.L) on the London Stock Exchange. I believe that the base currency for both funds remains USD (as that is what the spot price of gold is measured in).
Is there a particular reason why one would wish to buy GBP/SGBX over USD/SGBS? I am having difficulty in understanding why if the base currency remains USD in both circumstances, what difference the trading currency would make (after all if the trading currency is GBP at some point there would need to be a conversion to USD so that the spot price can be determined)?
If I'm showing a huge lack of understanding here, please feel free to explain it to me like I'm five.
Interestingly the above link does not show live prices for GBP/SGBX, just USD/SGBS; not sure if this is a website bug, or has a deeper meaning.
For background I am a UK investor, so my account is denominated in GBP.