Categories: Business

Gold ETF inflows surge 82 percent to Rs 921 crore in July

Photo: GOOGLE

Gold ETF inflows surge 82 percent

new Delhi. Investment in Gold Exchange Traded Fund (ETF) increased 86 percent to Rs 921 crore in July from the previous month. With gold prices reaching record highs, there is a lot of excitement among investors about adding precious metals to their portfolios, which is why they are investing in gold ETFs. According to data from the Association of Mutual Funds in India (Amphi), the net inflow of investment in Gold ETFs has risen to Rs 4,452 crore in the first seven months of the current year. As per the data, investors invested a net Rs 921 crore in Gold ETFs in July. In the previous month ie in June, he had infused Rs 494 crore in Gold ETF.

Following this investment, assets (AUM) under the management of Gold ETFs grew by 19 percent to Rs 12,941 crore by the end of July, from Rs 10,857 crore at the end of June. On a monthly basis, investors infused Rs 202 crore in gold ETFs in January. In February, he invested Rs 1,483 crore in it, but in March he deducted profits and withdrew Rs 195 crore. Net investment in Gold ETFs stood at Rs 731 crore in April and Rs 815 crore in May. Morningstar India Associate Director-Manager Himanshu Srivastava said that weakness in the US dollar, US-China tensions and the continued rise in Kovid-19 cases have led to increased demand for gold as a safe investment option. Because of this, gold is constantly going high. GRO chief operating officer (COO) Harsh Jain said that the main reason for increasing investment in gold ETFs is that investors are investing money in gold for hedging.

This post was published on August 16, 2020 1:59 pm

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