NSEL launched its first product under the E-Series as E-Gold on Wednesday, the 17th March, 2010.
E-Gold enables investors to invest their funds into gold in smaller denomination and hold it in demat form.
It is available on the pan India electronic trading platform set-up by National Spot Exchange, which can be accessed through members of NSEL or their franchises.
It provides an unique opportunity to buy, accumulate, hold and liquidate “Electronic Gold (E-Gold)” as well as to convert the same into physical gold coin/ bar in a seamless manner.
Retail investors who intend to trade/invest in E-Gold are required to register with one of the members of NSEL.
The process is exactly similar to client registration process for trading in the equity market.
Investors may choose any NSEL member on criteria like convenience, comfort, service levels, safety, reputation and charges levied etc.
1 unit of E-Gold is equivalent to 1 gram of gold of 995 purity.
The trading session is from 10:00 am to 11:30pm from Monday to Friday (except Exchange specified holidays).
The settlement is done on a T+2 basis.
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With the changing times, investors must also change the ways they prefer to invest. With better investment options like e gold which frees investors from tensions of safety, making charges, pricing etc. one must stop buying gold in physical form and avail advantages of product like e gold.