New rules in gold trading, huge profits for gold traders
Good news for those trading paper gold! The Ministry of Finance is going to relax the GST rules a lot to increase investment and business through the golden electronic receipt. EGR or Electronic Gold Receipt is called Deposit Gold Receipt. They can be traded on the stock exchange. They are like stocks, traded and held in demat accounts.
When buying gold openly, the trading exchange holds the underlying value of physical gold receipts in the vault. This means that investors buy gold in dematerialized form and receive gold receipts instead of physical gold. The process is similar to stock fitness.
Generally, electronic gold trading in India is done through gold derivatives or exchange traded funds on designated exchanges. Electronic gold receipts are the first physical gold spot exchange products.
Sebi previously stated that EGR will meet the needs of market participants. In other words, individual investors, trading participants, banks, refiners, bullion dealers, jewelers and retailers can buy and sell gold. in stock exchange.
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