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Gold FoFs are mutual fund schemes that invest in Gold ETFs rather than buying physical gold directly. When an investor puts money into a Gold FoF, the fund manager uses that money to purchase units of a Gold ETF which invests in physical gold. As a result, a Gold FoF’s value generally moves in line with gold prices.
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https://economictimes.indiatimes.com/mf/analysis/want-to-invest-in-gold-through-mutual-funds-here-are-the-options-after-gold-fof-curbs/investment-restriction/slideshow/135397352.cms
