look news india
Ahmedabad: Gold prices have fallen by almost Rs. 2,000 per 10 grams from the record high of May 2024, but domestically, investments in gold ETFs are showing no signs of slowing down. In the first half of the current calendar year, net investments in gold ETFs rose to a record Rs. 3 thousand crore. So far this year, investments have come out only in April, while the remaining 5 months have seen an increase in investments.
According to data from the Association of Mutual Funds in India, during June 2024, a total of 17 gold ETFs (gold exchange traded funds) in the country received a net investment of Rs. 726.16 crore, which is 46 percent more than during the same period last year, while a total of 13 gold ETFs in the country received a net investment of Rs. 456.15 crore.
Thus, during the first 6 months (January-June) of calendar year 2024, net inflows into gold ETFs amounted to Rs. 3,185.94 crore, while in the first half of calendar year 2023, net outflows amounted to Rs. 2.6 crore.
According to the data, during May 2024, Gold ETFs recorded a net investment of Rs. 827.43 crore. While in April 2024, a net withdrawal of Rs. 395.69 was seen. Earlier in the calendar year 2023, withdrawals were recorded from Gold ETFs only during two months i.e. January and March. During January 2023 and March 2023, there were withdrawals of Rs. 199.43 crore and Rs. 266.57 crore respectively, while the other 10 months saw inflows.
While during the financial year 2023-24, investment in Gold ETFs has increased by Rs. 5,248.46 crores. Earlier, such a jump in investment in Gold ETFs was not seen in any financial year. During the last financial year 2022-23, investment in Gold ETFs was Rs. There was an increase of 652.81 crores in this.
During calendar year 2023, net investment in gold ETFs in India was Rs. 2,923.81 crore, which is 6 times more than calendar year 2022. During calendar year 2022, net investment in 11 gold ETFs was Rs. 458.79 crore.