Gold ETFs: All You Need To Know About Gold BeES
The Gold BeEs ETFs offer an opportunity to investors to invest in the yellow metal without holding it in physical form.
Gold prices have surged significantly in the last few months. Currently, the 24 Karat gold costs Rs 98,840 per 10 grams. It could be a suitable opportunity for investors to diversify their portfolio by investing in the yellow metal. The investors can also gain from the surge in the gold price.
It's no longer necessary to buy gold in physical forms, like jewellery, to invest in the precious metal. Several instruments offer an opportunity these days to invest in gold in a digital form. Gold BeES stands for Gold Benchmark Exchange Traded schemes, which are open-ended Exchange-Traded Funds (ETFs) and reflect the price movements of physical gold, which could be a suitable choice.
As exchange-traded funds, the Gold BeES can be bought and sold on the National Stock Exchange (NSE) and BSE during market hours on all trading days.
A single unit of a Gold BeES is equivalent to 0.01 gram of gold of 99.5% purity in dematerialised or digital form. Investors can explore the Gold BeES ETFs in the cash segment of both the BSE and NSE. The ETFs can be purchased or sold at the prevailing market price.
Gold BeES ETFs: Key Details
Gold BeES ETFs can be traded during market hours like the stocks of any company. The investors can buy the ETFs at the real-time market price per unit. For investing in Gold BeES ETFs, the investors need to have a Demat account. When you buy one unit of a Gold BeES ETF, you invest in 0.01 gm of gold of 99.5% purity. The units purchased are stored in your Demat account. So, the gold is secured in a digital form and you can redeem the units when needed. This allows high liquidity and flexibility to investors, while offering an opportunity to invest in gold of 99.5% purity.
Investors can expect a transparent transaction process when buying the Gold BeES ETFs. Unlike physical gold, investors need not worry about storage in the case of such ETFs.
High liquidity: These exchange-traded funds for gold buying can be easily sold at the prevailing market price during a trading session.
Cost Effective: Unlike physical gold investments, the brokerage fee in the case of this scheme is lower for the investor. There is also no entry or exit load. The digital form of the yellow metal also helps investors to save more by avoiding the additional cost of dealing in physical gold, like opting for a bank locker.
Flexible Transaction Model: Gold BeES can be bought and sold at any time during trading hours and stored in your Demat account. The prices are determined by the market factors and there is no hidden cost.
Buy In Minimal Quantities: Unlike physical gold, investors can buy the Gold BeES in minimal quantities depending on their needs. One can start as low as a purchase of 0.01 gram of digital gold.
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