Gold ETF to merge or keep diversified

Hi Friends,

In my D-Mat portfolio I have 3 Gold ETFs – all trading negative.

Fund                 Buying price         Today’s price      % Loss

Goldbees           2737                    2484                  -9.3%

HDFCGold          2692                    2590                  -3.8%

KotalGold           2660                    2510                 -5.6%

 

At present the Rs.value loss is around Rs.7000 (cummulative).

Mathematically speaking is it a good idea to sell my ETFs of hdfc and kotak and invest that amount into Goldbees. If I do so then my average buying price of Golbess Rs.2737 would come down to Rs.2533. Hence even if the gold jumps over a period of time making the profit could be bit faster.

Look forward to your advice on this averaging logic of mine.

Thanks,

Gaurav