Hello @VishalJain ,
Are there any Indian stock market or MCX indices that track the performance of gold and silver prices? In Kite’s fundamentals section, gold ETFs are shown as being based on the Nifty 1D Rate Index. I’m not sure why they are using the 1D Rate Index.
You can track Silver and GOLD FUT on MCX
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Thank you @SG_13 and @Jack_R
I will use MCXGOLDEX and MCXSILVDEX .
@SG_13 - Just one more doubt , the gold etf like goldcase track this index or some thing else ?
I believe all Gold ETFs/ MFs track the domestic price of physical gold (not sure if this is same as MCXGOLDEX, although i believe, from a return perspective, they might be similar)
This seems to be an error from _Tijori, they used the wrong benchmark.
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Hey Sandeep, Gold & Silver are an individual underlying and as far as i know MCX does calculate a landed price of Gold through a polling process and so does IBJA. Its important to note that in the absence of a commodity spot exchange in India, there is no single closing price of Gold or Silver.
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Hi @VishalJain ,
Thank you for the reply. I was just wondering how the ETF NAV is calculated. Here are the gold prices from yesterday and today.
Here is yesterday’s ETF price.
Gold prices in India are rising, but all Gold ETF prices are going down.
Hey Sandeep, not sure what time these prices were taken but Gold as an asset class is priced internationally so they are open when India closes. Secondly, the pricing of various purity’s of Gold can differ, ETFs are based on the LBMA 1kg bars of 99.5% purity so can differ from 22 or 24k Gold. Best would be keep track of the Indicative NAVs for the ETFs while investing, they are available on the respective AMC websites.
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Hi @VishalJain
I have a general query regarding Gold/Silver FoF NAV calculation.
Specifically, I want to confirm how the FoF NAV is calculated at the end of the day. For example, if:
- Silver is trading at 100,
- The iNAV of the ETF is 99,
- The ETF is trading at a premium, at 101.
As I understand, since the FoF invests in ETF units, the Mutual Fund NAV should reflect the underlying ETF price of 101, and not the silver price of 100 or the iNAV of 99. I have arrived at this understanding by referring to various SIDs and their risk factor disclosures.
Could you please confirm if my understanding is correct? If yes, does it mean that when the ETF is trading at a premium on a given day, the FoF NAV will also reflect this and could be similarly inflated?