InvestorQ : How can I buy a gold ETF this Akshaya Tritiya?
Tanya Mehta made post

How can I buy a gold ETF this Akshaya Tritiya?

seema Upadhyaya answered.
3 years ago

Gold ETFs or exchange traded funds are open-ended mutual fund schemes that invest only in gold.

One unit of ETF is equal to one gram of gold and vice versa and the minimum you can purchase is one unit. Like a stock, you can buy or sell these ETFs on the stock exchange.

You need to have a trading account with a share broker and a demat account to open a gold ETF. Here’s how you can go about purchasing your gold ETF (through an online trading account)

Step #1: Open an online trading and demat account with a stock broker Step #2: Log in to the website of the broker's online trading portal using your login ID and password. Step #3: Choose the Gold ETF you want to invest in Step #4: Place the buy order for the purchase of a specified number of Gold ETF units Step #5: Web system debits your bank account (Fund transfer through linked savings account) Step #6: Units are credited to your demat account on trade day + 2nd day (also known as T+2 days)