CRISIL launches gold price index

CRISIL has launched the index to overcome the inconsistency among spot prices in India.

CRISIL Research on Monday launched the ‘CRISIL Gold Index’,which will track the performance of gold prices in the domestic ETF market.

“CRISIL Gold Index is an attempt to address the inconsistency in performance comparison and will serve as a common benchmark for evaluating performance of gold ETFs,” CRISIL (Director of Capital Markets) Tarun Bhatia said in a

statement.

The Gold Index has a base date of January 2,2007,and was based on the landed price of 10 grams of gold in Mumbai,he added.

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The newly launched product,which will be a public index,is the first index introduced by the research company in commodities space.

Currently,11 asset management companies offer 11 gold ETFS and three gold Fund of Funds (FoFs) in India. Also,gold ETFs have given an annualised return of 22.91 per cent in the last 36 months as compared to 9.3 per cent by S&P CNX Nifty.

The research firm said it would also look at launching other indices in the commodities space depending upon demand from investors.

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Nepal’s Home Minister Ramesh Lekhak resigns after 19 killed in ‘Gen Z’ protests

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Nepal's Home Minister Ramesh Lekhak has resigned after 19 people died during youth-led protests demanding reforms and accountability. The protests spread across major cities and police opened fire on demonstrators. Lekhak tendered his resignation to Prime Minister KP Sharma Oli during a Cabinet meeting, following calls from Nepali Congress leaders earlier in the day.

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