look news india
New Delhi: Gold and silver exchange traded funds (ETFs) witnessed extraordinary growth in demand during the calendar year 2024. This growth was fueled by higher prices and favorable tax adjustments.
According to data from the Association of Mutual Funds in India, in the first 11 months of this year, investors have withdrawn nearly Rs. An investment of Rs 19,000 crore was made, which in the year 2023 will reach Rs. 9,485 crores.
Experts say the rise in gold and silver prices this year was due to various factors including central bank policies and geopolitical tensions. Many other factors such as supply-demand imbalance and domestic market conditions influenced the price movement of these metals.
Gold ETFs have recorded their strongest performance in four years due to price rise, with domestic gold ETFs up nearly 20 per cent over the last year.
In the last decade, the highest returns in gold ETFs were in 2020 (26.5 percent) and 2019 (22.5 percent). Silver prices also rose in 2024 and its ETF gave returns of about 17 percent during this period.
Interest has also increased due to non-issuance of new sovereign gold bonds. The outlook for calendar year 2025 is uncertain for both metals. Analysts believe that some of the factors driving demand are weakening and Donald Trump’s return to power in the US has created new uncertainty. However, following positive signs, China resumed buying gold after six months. Starting and establishing itself as the most important buyer