Gold ETFs in India:- a Descriptive and Parametric Evaluation

Registration ID: IJNRD_201037

Published ID: IJNRD2307369

: Click Here to Get

Dr Joseph James V, Maninath R

Keywords: Gold ETF, Derivatives, Hedge, Speculation, Arbitrage, Financial engineering.

Abstract The present study looks at the benefits and drawbacks of the gold Exchange Traded Funds (ETFs), a newly invented autonomously tradable derivative tool built around gold, in the Indian context. The major concern over the initiation of the study is to assist a moderately risk seeking investor to have some guidelines to develop his investment portfolio. Investors nowadays are more rational, prudent, educated and hence rather selective in determining the mode of channelizing their funds. Rather they usually try to outperform the market both with respect to return and risk. In this context the researcher attempts to evaluate Gold ETF as an investment avenue from the point of view of a moderately risk seeking investor. The investigation additionally suggests a detailed and critical comparative evaluation of gold ETF effectiveness with the stock market in general in terms of risk and return from the perspective of a modestly risk seeking investor. The study is conducted with two major objectives. The first is to review a critical and descriptive profile of gold Exchange Traded Funds (ETFs). The second is to make a cross sectional evaluation of funds along with a comparison of fund with the market from the point of view of a moderately risk seeking investor in a risk to reward phase. The study evaluated the funds through descriptive statistics in regard to mean daily log return, variability of return and normality of the series. A correlation analysis between and among the fund return and the market return has also been performed. Considering the independence of distribution of components in the dataset a paired sample t test has been conducted with respect to fund return and the market. The Johansen co-integration test was used to determine the long-term consistency of fund returns across time and in relation to the market. The study revealed that gold ETF is a lucrative derivative instrument for a moderately risk seeking investor. ETFs can also be used as an instrument for hedge. It is also found that the funds are capable of providing consistent return invariably providing the same return irrespective of the fund or the market. Based on the study, it is suggested that gold ETFs are a profitable credit default swap device for a tolerably risk-averse investor. ETFs are additionally useful as a hedge mechanism. It has also been discovered that investments are able to deliver regular income stream, undoubtedly supplying the very same return regardless of the fund or market.

Published Paper   E-Certificate

Dr Joseph James V & Maninath R (July-2023). Gold ETFs in India:- a Descriptive and Parametric Evaluation. INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT, 8(7), d594-d604. https://ijnrd.org/papers/IJNRD2307369.pdf

Volume 8 Issue 7, July-2023

Pages : d594-d604

Paper Reg. ID: IJNRD_201037

Published Paper Id: IJNRD2307369

Downloads: 000122255

Research Area: Social Science and Humanities 

Author Type: Indian Author

Country: Kollam, KERALA, India

Published Paper PDF: https://ijnrd.org/papers/IJNRD2307369.pdf

Published Paper URL: https://ijnrd.org/viewpaperforall?paper=IJNRD2307369

Journal Name: INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT(IJNRD)

UGC CARE JOURNAL PUBLICATION | ISSN: 2456-4184 | IMPACT FACTOR: 8.76 Calculated By Google Scholar | ESTD YEAR: 2016

An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 8.76 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator

Publisher: IJNRD (IJ Publication) Janvi Wave | IJNRD.ORG | IJNRD.COM | IJPUB.ORG

© 2025 — Authors hold the copyright of this article. This work is licensed under a Creative Commons Attribution 4.0 International License. and The Open Definition.

You are free to share, adapt, and redistribute the material, provided proper credit is given to the original author. 🛡️ Disclaimer: The content, data, and findings in this article are based on the authors’ research and have been peer-reviewed for academic purposes only. Readers are advised to verify all information before practical or commercial use. The journal and its editorial board are not liable for any errors, losses, or consequences arising from its use.

Call For Paper - Volume 10 | Issue 12 | December 2025

IJNRD is a Scholarly Open Access, Peer-Reviewed, Refereed, and UGC CARE Journal Publication with a High Impact Factor of 8.76 (calculated by Google Scholar & Semantic Scholar | AI-Powered Research Tool). It is a Multidisciplinary, Monthly, Low-Cost, and Transparent Peer Review Journal Publication that adheres to the UGC CARE 2025 Peer-Reviewed Journal Policy and aligns with Scopus Journal Publication standards to ensure the highest level of research quality and credibility.

IJNRD offers comprehensive Journal Publication Services including indexing in all major databases and metadata repositories, Digital Object Identifier (Crossref DOI) assignment for each published article with additional fees, citation generation tools, and full Open Access visibility to enhance global research reach and citation impact.

The INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT (IJNRD) aims to advance applied, theoretical, and experimental research across diverse academic and professional fields. The journal promotes global knowledge exchange among researchers, developers, academicians, engineers, and practitioners, serving as a trusted platform for innovative, peer-reviewed journal publication and scientific collaboration.

Indexing Coverage: Google Scholar, SSRN, ResearcherID-Publons, Semantic Scholar (AI-Powered Research Tool), Microsoft Academic, Academia.edu, arXiv.org, ResearchGate, CiteSeerX, ResearcherID (Thomson Reuters), Mendeley, DocStoc, ISSUU, Scribd, and many other recognized academic repositories.

How to submit the paper?

By Our website

Click Here to Submit Paper Online

By Mail

Send your paper to editor@ijnrd.org

You can now publish your research in IJNRD. IJNRD is a Transparent Peer-Reviewed Open Access Journal Publication (Refereed Journal), aligning with New UGC and UGC CARE recommendations.

For more details, refer to the official notice: UGC Public Notice

Submit Paper Online

Important Dates for Current issue

Paper Submission Open For: December 2025

Current Issue: Volume 10 | Issue 12 | December 2025

Impact Factor: 8.76

Last Date for Paper Submission: Till 31-Dec-2025

Notification of Review Result: Within 1-2 Days after Submitting paper.

Publication of Paper: Within 01-02 Days after Submititng documents.

Frequency: Monthly (12 issue Annually).

Journal Type: IJNRD is an International Peer-reviewed, Refereed, and Open Access Journal with Transparent Peer Review as per the new UGC CARE 2025 guidelines, offering low-cost multidisciplinary publication with Crossref DOI and global indexing.

Subject Category: Research Area

Call for Paper: More Details

Approval, Licenses and Indexing: More Details