The domestic price of gold has slid about 11 per cent in the past six months. Investors should use the current correction in gold prices to increase their allocation to the yellow metal and diversify their portfolio from equity/ fixed income. Investors can purchase units of Nippon India ETF Gold BeES, an exchange-traded fund with a 14-year track record, which ticks the maximum boxes as an efficient vehicle to track gold prices. Positive drivers of gold price, such as growing inflationary pressure and monetary expansion initiatives, are still intact and these can trigger a rebound. The ETF offers best-in-class liquidity and convenient exposure to gold under a decent cost structure. Nippon India ETF Gold BeES emerges as the best option on account of it being the most liquid and actively traded gold ETF. Plus, the ETF has the least impact cost and tracking error among peers. The ETF also has a reasonable expense ratio of 0.82 per cent.

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