Zeal LLC on Gold, Kotak Gold ETF
Check out the latest essay by Adam Hamilton at Zeal LLC: Global Gold 3; including the section on India:
Rupee gold is also in a wedge, and it is tightening just like the other wedges and will soon break out . . . With Indian gold demand on the verge of its usual seasonal surge and looking very bullish technically under its 200dma, Indian investors will be buying gold too.
Note that a strong rupee has accounted for most of the drop in Indian gold prices over the past few months.
This has not helped the domestic gold ETFs (Benchmark Gold BEES and UTI Gold Fund), but that doesn’t seem to be an issue - Kotak is all set to launch its gold ETF soon.
- ETF unit will track the price of 1 gram of gold, priced in Indian rupees
- For Eligible Investors: Entry Load: 4.00%, Exit Load: 1.00%,
- Total Annual Recurring Expenses (Estimated): 2.5%
As always, I find the loads & expenses outrageous (eg: Marketing and Sales Promotion fee of 0.75%) - where’s the desi John Bogle ?!
Anyways, more details can be found here (once they fix the URLs):
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