2 days ago
Gold ETFs back in focus
New Delhi: After a two-month outflow, Gold Exchange Traded Fund (ETF) experienced a net inflow of Rs 292 crore in May driven by resilient gold prices and sustained global uncertainties.
The inflow led to an expansion in the category's assets under management to Rs 62,453 crore in May from Rs 61,422 crore in April, latest data with the Association of Mutual Funds in India (Amfi) showed. Going by the data, Gold ETFs witnessed an inflow to the tune of Rs 292 crore last month, marking an improvement from outflow of Rs 6 crore in April and Rs 77 crore in March. "The renewed traction in May signals a gradual return of investor interest, likely driven by resilient gold prices and sustained global uncertainties that reinforce gold's appeal as a strategic hedge," Nehal Meshram, Senior Analyst – Manager Research at Morningstar Investment Research India, said.
