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Gold Hub

Gold, explained. Invested. Compared.

Explore the different ways to invest in gold, compare them on cost and access, and use the calculators to see the real cost and the returns you would actually keep.

Explore gold investmentsCompare gold products

What this hub is — and what it isn't

  • Sourced and dated. Framework facts with a named source and a review date, not marketing copy.
  • Filterable, never ranked. No “best gold investment” badge — most options track the same metal, so cost and access are what separate them.
  • Calculator-first. Seven tools price the spreads, making charges and GST that quietly decide your outcome.
  • No live prices. LetsInvest has no gold or NAV feed, so nothing here is a quote — and it is labelled that way rather than dressed up as real-time data.

Framework facts reviewed 2026-09-20. LetsInvest is a research publication, not a SEBI-registered investment adviser — see our methodology.

Ways to invest

Every route to gold, grouped honestly

Financial gold, physical gold, gold trading and exchange receipts are four different products with four different risk profiles. None of them is a substitute for another.

Financial gold

Gold exposure you hold as a security or a platform balance — no metal in hand.

Gold ETF

Exchange-listed fund that holds physical gold. Bought in a demat account.

A mutual-fund scheme that holds physical gold (or gold-related instruments) and issues units that trade on a stock exchange like a share. One unit roughly tracks a fixed quantity of gold, so the price moves with the metal minus the scheme's expenses.

Regulation
SEBI-regulated mutual-fund scheme.
Liquidity
Trades during market hours, but volumes differ a lot between schemes — a large order in a thin scheme can move the price.
Compare with the alternatives Browse the listed gold ETFs

Gold mutual fund

Fund of fund that holds a gold ETF. Bought at NAV, no demat needed.

A mutual-fund scheme that invests in a gold ETF (occasionally directly in gold). It is unlisted, so you buy and redeem at the scheme's net asset value instead of on an exchange — which is what makes a plain SIP possible.

Regulation
SEBI-regulated mutual-fund scheme.
Liquidity
Redeemable at NAV on business days; not intraday, so you cannot time the metal's intraday move.
Compare with the alternatives Browse the gold funds

Digital gold

Fractional gold bought from a platform, stored by the seller.

You buy a small quantity of gold from a platform or jeweller, which records your holding and keeps the metal in its own custody. It is not a security: what you own is a claim on the seller, not units in a regulated fund.

Regulation
Not regulated by RBI or SEBI as a securities product. SEBI cautioned the public in Nov 2025; oversight is being discussed as of Sep 2026.
Liquidity
Only the platform you bought from will buy it back. There is no exchange market, and the price is the platform's, not a public one.
Compare with the alternatives Compare the providers

Physical gold

Jewellery, coins and bars. You hold the metal, and you carry its full cost.

Physical gold

Jewellery, coins and bars — metal you hold.

Actual gold in your possession. Jewellery is bought for use and gifting as much as for value; coins and bars are bought for value. Both carry costs that financial gold does not: making charges, purity questions and a resale spread.

Regulation
Not a SEBI-regulated product. BIS hallmarking applies to jewellery sold in India.
Liquidity
You sell to a jeweller or dealer at their buying rate, which sits below retail — expect a haircut.
Calculate the real cost

Gold trading

Derivatives on gold. Same metal, a very different risk profile.

Gold futures

Exchange-traded derivative contract on gold. Trading, not holding.

A contract to buy or sell a fixed quantity of gold at a future date. You post margin rather than paying the full value, so a small move in gold moves your money a lot. Exchange contract specifications set lot sizes; mini and micro variants carry a smaller notional.

Regulation
SEBI-regulated exchange-traded commodity derivative (MCX/NSE).
Liquidity
The near-month contract is usually the most liquid; far months and mini/micro variants are thinner.

Trading instrument. Leverage, expiry and margin calls make the risk profile different from holding gold.

Compare with the alternatives

Gold options

Options on gold contracts — defined premium, different risk from holding gold.

An option gives you the right, but not the obligation, to buy or sell a gold contract at a set price before expiry. You pay a premium for that right. It is a trading and hedging instrument, not a way to accumulate gold.

Regulation
SEBI-regulated exchange-traded commodity derivative (MCX/NSE).
Liquidity
Concentrated in near-month, near-the-money strikes; the rest is thin.

Trading instrument. Leverage, expiry and margin calls make the risk profile different from holding gold.

Compare with the alternatives

Electronic Gold Receipts

Exchange-traded receipts backed by gold in a SEBI-registered vault.

Electronic Gold Receipt (EGR)

Exchange-traded receipt for gold sitting in a SEBI-registered vault.

An Electronic Gold Receipt is a security that represents a defined quantity of standardised gold held in a vault managed by a SEBI-registered vault manager. The receipts trade on the exchange, are held in a demat account, and can be converted to and from physical gold through the prescribed process.

Regulation
SEBI Gold Exchange framework, with SEBI-registered vault managers, depositories and clearing corporations.
Liquidity
Exchange-traded with public price discovery; trading interest varies by contract and denomination.
Compare with the alternatives

Exchange-listed EGR denominations run 10 mg, 1 g, 10 g, 100 g, 1 kg in 999 and 995 purity (NSE — About Electronic Gold Receipts (EGR)).

Compare all seven side by side

Regulation, minimum ticket, demat, SIP, GST, storage, spreads, physical delivery, tax framework and the key risk for each — across 14 dimensions. Filter the columns by what you actually need.

Open the comparison

Seven gold calculators

  • Gold SIP — Project a monthly gold investment at an assumed return.
  • Return so far — Absolute return and CAGR on a holding you already own.
  • CAGR — Annualised growth between two values.
  • Gold vs FD — The same money in gold against a bank fixed deposit.
  • Gold vs silver — Two assumed-return projections side by side.
  • Jewellery cost — Metal, making charges, GST and the effective price per gram.
  • Allocation — How much of your portfolio sits in gold, and in what form.
Open the calculators

Returns are assumed gold returns you set yourself — 9% is pre-filled for illustration and is not a forecast.

Historical · not currently available

Sovereign Gold Bonds were discontinued

Discontinued — no fresh tranche issued since February 2024. The Government of India has not opened a new Sovereign Gold Bond tranche since the 2023-24 Series IV, and no issuance calendar for a new series has been announced. SGBs are therefore not listed as a way to invest on this site.

Bonds already issued are unaffected. The RBI continues to publish premature-redemption windows — the calendar covering October 2026 to March 2027 lists tranches from 2019-20 onward, with premature redemption permitted after five years from issue.

How the scheme worked while it was open
  • Issued by the Reserve Bank of India on behalf of the Government of India.
  • Denominated in grams of gold; minimum investment of one gram, in multiples of a gram.
  • Maximum subscription of 4 kg for individuals and HUFs, and 20 kg for trusts and similar entities, per financial year.
  • Fixed interest of 2.50% per annum on the initial investment, paid semi-annually, with the final interest payment at maturity.
  • Redeemed in cash at the prevailing market price of gold.
  • Issued to resident investors, including individuals, HUFs, trusts, universities and charitable institutions; joint holding allowed.

Source: RBI — Sovereign Gold Bond FAQs · RBI — SGB Scheme calendar for premature redemption, Oct 2026 – Mar 2027 (press release, 21 Aug 2026)

SGBs are deliberately absent from the comparison and the calculators above: an eight-year government-backed bond with a fixed 2.50% coupon is not a live option, and presenting it as one would be misleading.

Provenance

Where these facts come from

Every framework claim in this hub traces to the primary source listed below, dated and linked. Where a rule could not be pinned to an official page, the page says so instead of asserting it.

Two positions are stated as reported rather than sourced, and are labelled that way where they appear: the 12-month long-term test for listed gold-ETF units (statute-based, cross-checked against three fund houses) and the ongoing discussions about digital-gold oversight, which no official framework has yet notified. Content reviewed 2026-09-20.

FAQs

Gold investing questions we get asked

Frequently asked questions

Can I still buy Sovereign Gold Bonds?

No. No new SGB tranche has been issued since February 2024 and no new issuance calendar has been announced, so SGBs are not a currently available investment. Bonds already issued continue to run to maturity, and the RBI still publishes premature-redemption windows for them — permitted after five years from the issue date.

Is digital gold regulated in India?

Not as a securities product. SEBI issued a public caution in November 2025 stating that digital gold is not offered through SEBI-regulated gold products, and neither RBI nor SEBI regulates it under a dedicated framework. As of September 2026, the government is reported to be considering RBI/SEBI oversight with a 1:1 physical-backing requirement, but no official framework has been notified. Physical gold, gold ETFs, gold funds and EGRs each have their own, different framework.

What is an Electronic Gold Receipt?

An EGR is an exchange-traded security that represents a defined quantity of standardised gold held with a SEBI-registered vault manager. It sits in a demat account like a share, trades on the exchange with public price discovery, and can be converted to physical gold through the prescribed process. Exchange-listed denominations run from 10 mg to 1 kg in 999 and 995 purity.

Gold ETF or gold mutual fund — what is the difference?

Both give gold exposure without metal in hand. A gold ETF is a listed scheme whose units you buy on the exchange in a demat account; its price can drift from NAV when the scheme is thinly traded. A gold mutual fund is an unlisted fund of fund that you buy and redeem at NAV, which is what makes a monthly SIP straightforward — but it carries its own expense ratio on top of the underlying ETF's. Neither is better in the abstract; the trade-off is demat-plus-exchange execution against SIP convenience and a second layer of cost.

How much GST do I pay when buying gold jewellery?

Gold metal attracts 3% GST. Making charges attract 5% when they are billed separately. If a jeweller bills a single composite price for ready-made jewellery, the whole bill carries 3%. Buy-sell spreads and making charges usually matter more to your eventual return than the GST rate.

How is gold taxed in India?

This is framework, not filing advice. The Finance (No. 2) Act 2024 removed indexation and set a uniform 12.5% long-term capital gains rate. The default long-term holding test is 24 months, and listed securities use a 12-month test — so listed gold ETFs are long-term after 12 months while unlisted gold fund units use 24 months. Jewellery is a capital asset, not a personal effect, so it is taxed on the same capital-gains basis. Exchange-traded derivatives are generally treated as business income at slab rates. Confirm your position with a tax adviser.

Which gold investment gives the best return?

There is no single answer, and we do not rank gold products. Most gold instruments track the same metal price, so returns differ mainly by the costs you pay to hold them: expense ratios, making charges, storage, spreads and taxes. Use the comparison to filter by what you actually need and the calculators to price the costs, then decide.

Does LetsInvest show live gold prices?

No. LetsInvest has no gold price, NAV or market-data feed, so nothing on this site is a live quote and we do not pretend otherwise. The calculators run entirely on inputs you enter, and the product information is framework facts with a dated source.

The hub is complete at fifteen routes: the comparison and calculators, per-product directories for ETFs and funds, guides to digital gold, physical gold, trading and EGRs, the apps directory, the gold decision engine, guides, updates and the historical SGB record, plus dated IBJA rates with a 30-day chart.