Performance of Gold ETFs- Year till Date

Performance of Indian Gold ETF's

Barring Birla Sun Life Gold ETF, every other Gold ETF in India, has given 30 %+ returns this year, while physical Gold which was 1370 $/Oz. on January 3, 2011 is presently trading at 1842 $/Oz.
The reason for less return from Birla Sun Life Gold ETF is due to its late inception and it has nothing to do with the performance of the ETF.
That means international gold price has been appreciated by 34.45 %.

 This indicates the efficiency of Indian gold ETFs in tracking gold. Tracking error should be as low as possible.