DSP Asset Managers has launched a new open-ended exchange-traded fund (ETF) called DSP Gold ETF, which tracks domestic gold prices. The new fund offer (NFO) for DSP Gold ETF opened on April 17, 2023, and will close on April 24, 2023. DSP Mutual Fund has stated that this new ETF will provide investors with greater ease in trading gold, which is currently a good time to buy due to macroeconomic factors that suggest a weakening US dollar and flat equity markets extending gains in gold prices. Experts predict that the price of 10 gm of 22 carat gold may reach the Rs 62,000 mark in April. This product is ideal for investors looking for long-term capital appreciation, and DSP Mutual Fund advises maintaining a long-term outlook of 7-plus years to maximize return potential. As a prudent approach to long-term portfolio management, DSP Mutual Fund recommends that 5-10% of one’s investment portfolio should be allocated to gold.
DSP Asset Managers Launch Gold ETF
ETF Newz Says:
Gold ETFs are passive investment instruments that track the price of physical gold in the domestic market and invest in gold bullion. Each unit represents one gram of physical gold, which is the minimum investment.