Wednesday, 25 April 2012

Indian Gold ETF that swaps shares for gold boosted by festival

The amount of gold sold during yesterday's gold buying festival in India was a disappointment according to Reuters: Prices, inflation dent gold demand on Akshaya Tritiya

That was in the traditional physical markets. But sales in the physical gold ETF market soared as trading costs were waived. The biggest percentage rise (although from a lower base than its larger peers) was seen by the only ETF that gives its investors the option to convert ETF shares into gold.