Investment in Gold ETF at Rs 1,028 crore in August, 16 month high – Dainik Savera Times
New Delhi: As interest rates continue to rise in the US, gold ETFs (Gold Exchange Traded Funds) have seen an investment of Rs 1,028 crore in August, which is a 16-month high. The pace of economic growth has been affected due to increase in interest rates in America. With this, annual inflows into this category have crossed Rs 1,400 crore, according to data from the Association of Mutual Funds in India (Amfi).
Apart from inflows into gold ETFs, its asset base and the number of investor accounts (folios) have also increased during the period under review. According to the data, Rs 1,028 crore was invested in gold ETFs in August. Earlier in July, it had received investment of Rs 456 crore. Earlier, gold ETFs had seen inflows of Rs 298 crore during the April-June period after three consecutive quarters of selloff.
There was a withdrawal of Rs 1,243 crore from this category in the March quarter, Rs 320 crore in the December quarter and Rs 165 crore in the September quarter. Gold ETFs saw highest monthly inflows in August, 2023 since April, 2022. Due to the Russia-Ukraine war in April 2022, there was an investment of Rs 1,100 crore in this category.
