getlost01 Gold & Commodity Sleeve
Read-only. reference/READ-ONLY-POLICY.md (hard rule) and
reference/RESEARCH-STANDARDS.md (peer framework for passive vehicles,
data efficiency, completeness checklist, disclosure) apply. Steps name
capabilities — resolve each against reference/BROKER-CAPABILITIES.md.
No broker MCP exposes gold or silver spot, an ETF's iNAV, or SGB issue terms, so the reference prices here are web-sourced — label and date each one per the standards. Tax treatment of both SGBs and gold funds has changed in recent Budgets: verify it live rather than quoting a rate from memory.
Steps
Load the plan.
PORTFOLIO-PLAN.md— Target allocation (the ETF/gold bucket, and which bucket the user counts gold funds in), the fixed-income inventory (SGBs are usually recorded there, and no MCP can see them), Rebalancing rules (a "never touch" line on an SGB tranche held for maturity is decisive), and the Income goal, since the SGB coupon is real income.Pull live state. Equity holdings from every active broker — gold and silver ETFs appear as ordinary equity lines; gold FoFs sit in the fund sleeve (SIP register, or INDmoney's fund holdings if active). Demat-held SGBs may or may not surface in the holdings payload: check, fall back to the plan inventory, and don't count a tranche twice. One batched LTP call for everything listed.
Establish the reference price — domestic gold (₹/10g, 24k) and silver, plus international spot, from the web, dated. Every premium/discount figure below is only as good as this number, so cite it once, prominently.
Per SGB tranche: issue price, remaining tenor and maturity date, next coupon date, and the 2.5% coupon — which is paid on issue price, so state yield-on-issue and yield-on-current-price separately; they diverge a lot after a gold rally. Then market price vs. the tranche's underlying gold value → premium or discount %. A discount with a short tenor left is the classic case for holding to maturity; a premium is why buying one on the exchange is often worse than it looks. Note that fresh issuance has been discontinued — secondary market only — and confirm that status via the web rather than asserting it.
Per ETF / FoF: expense ratio, tracking difference vs. the gold or silver price over 1Y, AUM and trend, and current premium/discount to iNAV. Then quote + depth on each — thin gold ETFs trade meaningfully away from iNAV intraday, and that spread can dwarf the TER gap between two candidates. Groww's ETF screener is dead (see Tool availability) and no other configured broker replaces it, so fees and tracking come from the AMC factsheet / AMFI / Value Research. For a like-for-like contest between same-index vehicles, that's
etf-tracking-quality's job — point there instead of duplicating it.Get the tax treatment current, from the web, dated — SGB redemption at maturity vs. a secondary-market sale are treated differently, and the holding-period rules for gold ETFs and gold funds moved in the 2024 Budget. Hand the resulting numbers to
tax-capital-gainsrather than computing a liability here.Size the sleeve. Sleeve % vs. the plan's target, with the honest framing: gold is ballast and a diversifier with no cash flow (bar the SGB coupon), so judge it on the role it plays in a drawdown, not on trailing returns — a sleeve that just outran everything is more likely to be over-target, not validated. Any view on the gold path itself gets both branches, never a direction stated as knowledge.
Present. One table: instrument, type, ₹ value, weight, premium/discount, tenor or maturity, coupon or TER. Then findings, then a view + horizon per instrument type (a maturing SGB and a costly ETF deserve different verdicts), the reference price and its date, and the disclosure block. Formal version:
reference/templates/gold-and-commodity.md.Hand off.
bond-ladder-planner(SGB maturities are ladder rungs),rate-watch(real rates are the main driver),rebalancing-plannerfor sizing,portfolio-stress-testfor the diversification claim under an actual shock.