India’s first Gold ETF debuts
Mar 20, 2007
Personal Finance
The first Indian Gold ETF, Gold BeESfrom Benchmark AMC, has been listed on the NSE. It opened at Rs.950 per unit (gram), shooting up to Rs.1,104, and closed around Rs.942. The allottment price was Rs.945.7 per gram.
There were around 5,900 trades, amounting to Rs 6.3 crore. The trading unit is fixed at one gram with a tick size of one paisa. This allows trading and holding gold in demat form, without the attendant risks of handling gold in it’s physical form.
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