{
    "type": "ETC",
    "ucits": false,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The WisdomTree Physical Gold ETC is a physically backed commodity product with no leverage, derivatives, or synthetic replication. It directly holds allocated physical gold, providing a straightforward exposure to gold spot prices. The risk level is rated 4 out of 7, indicating medium risk, and there are no complex features such as capital protection, structured returns, or illiquid underlying assets. The product is transparent, with daily published metal entitlements, and trades on multiple exchanges with no counterparty risk beyond standard custodial arrangements. The KIID and factsheet confirm no use of swaps, derivatives, or leverage, and the product is designed for retail investors with clear risk disclosures.",
    "confidence": 95,
    "risk_level": 4,
    "counterparty_risk": false,
    "illiquid_assets": false,
    "capital_protection": false,
    "structured_features": false,
    "comprehension_warning": false,
    "benchmark_complexity": false,
    "roll_costs": false,
    "contango_backwardation": false
}