Gold is hotting up again. With this trend continuing, new players are entering the gold arena also. On Monday, Reliance Gold Exchange Traded Fund, an open ended fund, made its debut on the NSE and it opened at a premium of 5.03 per cent.
It began at Rs 1,069 (highest) while it touched a low of Rs 1,025 and closed at Rs 1,055.7.
The NFO for the fund was between October 15, 2007 and November 1, 2007 and during this period the fund raked up Rs 3 billion.
This makes it the fourth largest gold exchange traded fund. The others include Gold Benchmark Exchange Traded Fund, UTI Gold Exchange Traded Fund and Kotak Gold Exchange Traded Fund.
The fund is planning to invest 90 per cent of the corpus in