Kolkata: The National Stock Exchange of India (NSE) has launched Electronic Gold Receipts or EGRs, which is another modern process of investing in gold digitally. Gold has been hitting the headlines regularly for more than two years now, thanks to the bull run the yellow metal has enjoyed in both the global and domestic markets. Since investment in physical gold such as bars, coins and jewellery comes with lot of hassles such as safekeep and ensuring the level of purity of the metal, all the modern instruments are demat ways of investing in gold. Let’s have a look at the features of the new instrument and what the benefits can be.
What is an EGR?
As the nomenclature indicates, EGR is an electronic receipt issued against physical gold deposited with a vault manager. The point to note is that this vault manager will be registered by capital markets regulator Sebi. These are dematerialised securities and can be traded on NSE just like a share. The advantage is: it integrates gold into the larger financial system. NSE has said that it has dematerialised a gold bar of 1000 grams into an Electronic Gold Receipt.
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