1 share of GOLDBEES is 47.26 (today).
I want to know how much Gold do they store?
If a person has 500 shares of GOLDBEES, then how much Gold does the person own?
1 Unit of GoldBees equals to 0.01 grams of Gold.
Minus the expenses incurred by the fund from day 1
Haha… Well you don’t exactly own any gold. GoldBees is an ETF. ETF just tracks the value of an instrument and tries to replicate the returns. So you are basically owning the stocks of companies that deal with gold directly or indirectly.
If you wanna own actual gold, it’s really really easy. Just use phonepe or Gpay. They have a facility for that.
Doesn’t they required to store the amount of Gold bought as the shares?
Well it depends on the ETF. Some like to have only gold while others have a combination of stock and gold.
How about GoldBees?
It stores gold on your behalf. Also you can get physical delivery when you want…
Nope you can’t. You do not own any gold and do not get physical delivery.