look news india
Mumbai: Amidst the uncertain economic environment, investment in gold is increasing across the world. Gold is considered a safe investment instrument.
Gold exchange-traded funds (ETFs) witnessed net inflows globally for the fifth consecutive month in September due to interest rate cuts in the US and rising geopolitical tensions in the Middle East.
According to the World Gold Council, assets under management (AUM) of gold ETFs also increased by five percent to $271 billion and the combined figure of gold holdings reached 3200 tonnes at the end of September.
As far as India is concerned, gold ETFs have seen net inflows in the last twenty months, except for March, 2023 and April, 2024, according to data from the Association of Mutual Funds in India (AMFI).
The AUM of India's gold ETFs stood at Rs 39,824 crore at the end of September, reflecting the growing attraction of investors towards gold in the country.
Council sources said that amid the uncertain economic environment, investors preferred to invest more in gold than other asset classes. Managed gold ETFs in North America saw higher inflows in September, the council reported.
In the last one year, investors in India have got 33 percent return on gold in rupee terms. There are currently 17 gold ETFs running in the country. From the data obtained, it can be said that like gold ETFs, the interest of investors in silver ETFs is also increasing in the country. According to Amfi data, silver ETFs have seen a net inflow of Rs 7683 crore in the one and a half year to April 2023.
