(A little longer question, please bear with me)
I have read all the topics for Goldcase here and understood that ZFH set the creation unit of 6.3 lakhs when gold price was 63000 per 10g.
6.3 lakh units * Rs. 10 => 63 lakhs which is 1KG gold at the time of creation.
Now, Gold quantity per ETF unit comes out to be 1000g gold/6.3 lakh creation units → (1000/630000) → 0.001587g.
So, 1 unit of GoldCase represents ~0.001587g of Actual Gold.
As per Nippon,
1 unit of GoldBees represents ~0.01g of Actual Gold
IF all above calculations are true, as per 4th may 2025:
1g Gold via GoldCase → (14.8664/0.001587) = Rs. 9367
1g Gold via GoldBees → (78.94/0.01) = Rs. 7894
1g Gold 995 IBJA rate = Rs. 9357
Now I want to understand how GoldBees is offering gold at much cheaper rate than Goldcase and even cheaper than IBJA rates!
PS:
-
I checked constituents too, Goldcase has 97.47% of Gold 995 vs Goldbees has 98.51% even then Goldbees is offering it at lesser rate. How!?
-
Some difference is okay because of tracking error, expense ratio but I can’t understand how GoldBees is cheaper by atleast 15%.
-
On 4th may, GoldBees NAV: 78.94 ; GoldCase NAV: 14.8664