Gold ETFs likely to glitter on firm prices

With the gold prices crossing the Rs 30,000/10 gm-mark for the first time ever in the bullion market on saturday, gold exchange traded funds (gold ETFs) will see some frantic buying. Currently, there are around 15 gold ETFs in the market with Gold BEES from Goldman Sachs dominating the market share. Gold ETFs will be in demand as global financial uncertainty has increased the metal's appeal as a safe investment haven. Most Gold ETFs are trading around Rs 2,800 range. While Reliance Gold ETF closed on Friday at Rs 2,685.05 – the lowest price among Gold ETFs, IDBI Gold finished at the top end Rs 2,909.85.