Gone are the days when jewelers had the monopoly of selling the yellow metal. A few years ago, banks jumped on to the gold bandwagon too and started offering gold coins to their customers. Now there is a new innovation- Gold Exchange Traded Funds ETF, which allows investors to hold the precious metal in paper form, just like a share or bond certificate. Gold Exchange Traded Funds ETFs are the latest financial instrument to hit the market. And in a gold crazy country like India, it sure has the potential to emerge as a popular investment product. Gold Exchange Traded Funds may open new vistas for the mutual fund industry. Mutual funds like Benchmark MF and UTI offer gold ETFs to their customers. Gold ETFs are nothing but MF units that are traded on the exchange just like a listed share of a company. During market trading hours, investors can submit ‘buy’ or ‘sell’ orders, which are executed by the market. If investors require cash, they can redeem their ETF units, though they have to incur some cost for redemption