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I think this is a bad decision. First of all, always avoid mutual fund NFOs as there is no track record. You get NOTHING by investing at Rs 10. Secondly, it is much better to buy Gold ETFs. These Gold Funds will anyway buy gold ETFs and you will actually pay twice - once for fund management fees and also for fund's etf transactions. Plus the fund mgmt fees will be charged every year. Buying gold ETF is cheaper and better. You may buy Gold fund only if you don't have or don't want to open a demat a/c.