look news india
Gold ETF inflows saw a massive 897 per cent jump in the first seven months of 2024.
In the first seven months of 2023, gold ETFs attracted Rs. 453.35 crore of investment, compared to Rs. 4,523 crore in the January-July period of 2024, according to data from the Association of Mutual Funds in India (AMFI). As of December 2023, the average asset under management (AUM) figure of gold ETFs was Rs. 26,893 crore, which increased by 28.8 percent to Rs. 34,644 crore by July 2024.
According to experts, during the period under review, there was constant uncertainty about what the global interest rate situation would be and when the US Fed would cut interest rates. This made it attractive to invest in gold, which was considered a safe investment.
Apart from this, the inflation rate also remained high at the global level, as a result of which investors increased their investment in gold with the intention of protecting themselves from the inflation rate. Due to this, there has been such a huge jump in investment in Gold ETF.