How is physical gold and Gold ETF/Fund taxed?

Physical gold and Gold Mutual Funds/ETFs are treated as non-equity assets. STCG (held under 24 months) is taxed at the slab rate. LTCG (over 24 months) was earlier taxed at 20% with indexation, but post-2024 Budget, it's 12.5% without indexation, aligning with equity asset treatment.