Gold ETFs saw net outflows of Rs 194.7 crore in November. Outflows in the previous month followed two consecutive months of net inflows in gold ETFs. The category has seen net inflows of Rs 732 crore in the entire year, with outflows taking place in five months. Net outflows witnessed in November could largely be on account of some profit booking by investors as the performance of the yellow metal surged, reports Ashley Coutinho.
“While inflation in the US is showing signs of moderation and the US Fed has signalled for a moderation in its rate hike, it is still above the Fed’s target inflation rate.
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Globally, we continue to witness central banks buying gold at a record pace as inflation across countries continues to be a teething worry,” said Melvyn Santarita, analyst, manager research, Morningstar India.