There were reports of heavy buying of Gold everywhere on the auspicious occasion of Akshay Tritiya on April 24, 2012.
I thought of checking how did the new channels of buying Gold – Gold ETF and e-Gold performed.
Below is the graph showing turnover of Gold ETFs on Bombay Stock Exchange (BSE) on April 24, 2012.
Also below is the graph showing turnover of these ETFs on April 13, 2012. The volumes of Gold ETFs surged 4 to 100 times. For e.g. Goldman Gold ETF turnover went up to Rs. 11,680 lakhs from Rs. 281 lakhs, a increase of 41 times.
In case of e-Gold and e-Silver traded on National Spot Exchange Limited (NSEL) the turnover was more than 25 times than previous day. Even in case of Silver too the volume surged to 3 times.
Did you buy Gold this Akshay Tritiya? and what was your preferred way of purchasing Gold?
1 thought on “Gold ETF and e-Gold Turnover on Akshay Tritiya”
Great analysis of the market on akshay tritiya on gold sales. On this day, more amount gold will be purchased by most of them. Thanks for ur analysis.