NSE reports brisk trading in gold ETFs on Dhanteras
Mumbai: The National Stock Exchange saw brisk trading in gold ETFs on the occasion of Dhanteras today recording a turnover of Rs 1,337 crore against Rs 636 crore on the same day last year.
In terms of volume, the number of gold ETF (exchange traded fund) units traded went up by 81 percent to 4,441 kg (each unit of ETF is equal to one gram of gold) over the same day last year, the exchange said in a release.
Dhanteras is considered an auspicious day to buy precious metals likes gold and the exchange held a special trading session on Sunday.
Overall also, the volume in gold ETFs on the exchange have been going up. In the January-July period, the average monthly traded value in Gold ETFs on NSE grew by 28 percent to Rs 1,195 crore against Rs 933 crore in the same period in 2011.
Gold ETFs carry an advantage over physical gold like 99.5 percent purity assurance.
Currently, 14 Asset Management Companies offer this product on the NSE platform.