Gold prices are having a dream run in the last decade. Gold Exchange Traded Funds (ETF) are the cheapest and safest ways of buying, holding and selling Gold. They eliminate wastage and don’t have the storage issues that physical gold has.
But hasn’t the prices reached somewhere near the top and the only way forward would be downhill?
ICICI Pru MF doesn’t think so! ICICI Prudential Mutual Fund on Friday launched its open- end- ed exchange traded fund — ICICI Prudential Gold Exchange Traded Fund.
The fund has an objective to provide investment returns close- ly tracking the performance of do- mestic gold prices derived from London Bullion Market Associa- tion fixing prices.
According to a press release, Gold ETF costs are lower than buying, storing and insuring physical gold and the units can be bought and sold on the major ex- changes like the NSE or BSE. “ The Gold ETF will allow in- vestors to participate in the fu- ture potential of this asset classes with convenience and create a ho- listic financial portfolio for them- selves,” ICICI Prudential AMC, Managing Director, Nimesh Shah said.
