I suggest you to invest in eGold & eSilver thatn Gold ETFs. eGold & eSilver is offered by National Spot Exchange (NSEL), which is trust worthy. No need for commodity demat account, with ordinary demat account it can be purchased. only restriction your broking house should have tie up with NSEL, pls check with ur broker.
http://www.nationalspotexchange.com/eseries.htm
I did some research on these. Maina dvantages:
1) Physical delivery of Gold is not is avaialble with ETF. but NSEL does physical delivery of Gold in major cities with 99.99% purity. It is your choice physical gold/money.
2) EFT normally has around 2.5% as annual maintenance, It is included in ETF NAV calculation. whereas only 60 paise annally charged for eGold 1gram/year, its negligible.