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Lacking lustre: Gold prices soar but ETFs not so popular

On Monday, the price of gold hit a new high at Rs 38,578. Surprisingly, gold ETFs have seen outflows every year since 2013-14, Amfi data show. 

The total AUM in gold ETFs at July end was approx. Rs 5,080.47 crore; at the end of March 2013, it was more than twice this amount.

Even as gold prices surge, gold exchange traded funds (ETFs) have seen some Rs 70 crore worth of investments being pulled out in the four months to July, reports Chirag Madia in Mumbai. The total AUM in gold ETFs at July end was approx. Rs 5,080.47 crore; at the end of March 2013, it was more than twice this amount. Over the past year, returns from gold have been close to 29% while the Sensex has lost a shade under 3%. On Monday, the price of gold hit a new high at Rs 38,578. Surprisingly, gold ETFs have seen outflows every year since 2013-14, Amfi data show.

 

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