Gold ETF trading sessions extended on Akshaya Tritiya: NSE

The National Stock Exchange(NSE) has extended its trading session for trading in Gold ETFs on April 24, 2012 on the occasion of Akshaya Tritiya. Normal Trading session for ETFs are from 9.30 am - 3.30 pm. However, on April 24 there will be an additional session from 4.30 pm until 8.00 pm.

In addition to this, the NSE has said that there would be no transaction charges on that day, making it an ideal opportunity to invest in Gold ETFs.

Gold ETFs have seen a phenomenal growth on the NSE since their launch in 2007. The traded value increased from Rs 1,172 crore in 2008-09 to Rs 11,532 crore in 2011-12. The gross traded value in Gold ETFs on Akshaya Tritiya day had gone up from Rs 345 crore in 2010 to Rs 846 crore in 2011, the NSE has said.

There is an emerging interest in ETF, since they track gold and at the same time do away with the hassles of miscellaneous charges like lockers to hold gold in the physical form.

There are a total of 14 asset management companies that are offering gold in ETF form. A few of the recent ones included the Motilal Oswal MOSt shares gold ETF, Canara Robeco, Kotal Gold.

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