GOLD ETF TRADING TILL LATE NIGHT

Leading stock exchanges, NSE and BSE, today decided to extend the trading session for Gold Exchange Traded Funds (ETFs) till 7 PM on May 13 on account of auspicious occasion of Akshaya Tritiya. Besides, the two bourses have also decided to waive off the transactions charges for all trades in gold ETFs on this day to cash upon the investor demand for yellow metal on this occasion.
"The exchange is conducting an extended live trading session on Monday, May 13, 2013 on the auspicious occasion of Akshaya Tritiya for trading in Gold ETFs securities only," NSE and BSE said separately. After the regular market hours from 9:15 AM to 3:30 PM, trading in gold ETFs will resume at 4:30 PM on May 13 and continue till 7 PM, the exchanges added.
The gold ETFs track the gold prices and each unit of these ETFs is generally equivalent to one gram of gold. It is considered auspicious to buy valuables like gold on occassions like Dhanteras, Diwali and Akshay Tritiya in India. Gold ETFs, where returns are linked to the domestic price of physical gold but spare the investors from the trouble of buying and keeping the yellow metal in physical form, have been gaining ground among investors in past few years.
The gold ETFs enable investment in the precious metal on the stock exchange platform in an electronic mode.The extended trading would be allowed in gold ETFs of Axis, Goldman Sachs, HDFC, ICICI Pru, Kotak, Quantum, Reliance, Religare, SBI, UTI and Birla Sun Life mutual funds among others.