Presently, gold and silver ETFs value their physical holdings based on London Bullion Market Association (LBMA) AM fixing prices, adjusted for currency conversion, customs duties, taxes, and a notional premium/discount to match Indian bullion prices. This method creates complexities, including duplication of effort for Asset Management Companies (AMCs) and inconsistencies due to varied domestic benchmark sources and application frequencies for premiums/discounts. Also, while physical holdings use LBMA-derived prices, Exchange Traded Commodity Derivatives (ETCDs) on gold/silver within mutual fund schemes are valued at domestic commodity exchange futures closing prices, leading to different valuation sources for the same asset class within a single scheme. SEBI proposes mandating the direct use of spot prices published by SEBI-regulated domestic commodity exchanges for valuation, arguing this would reduce subjective adjustments, ensure uniformity, and better reflect local market conditions. The feedback/ comments from stakeholders are invited.