On Dhanteras, the number of gold ETF units traded on NSE went up by 81% to 4,441 kg
Mumbai: The National Stock Exchange (NSE) on Sunday saw brisk trading in gold exchange traded funds (ETFs) on the occasion of Dhanteras recording a turnover of Rs1,337 crore against Rs636 crore on the same day last year, reports PTI.
In terms of volume, the number of gold ETF units traded went up by 81% 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 like 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% to Rs1,195 crore against Rs933 crore in the same period in 2011.
Gold ETFs carry an advantage over physical gold like 99.5% purity assurance.
Currently, 14 Asset Management Companies offer this product on the NSE platform.