Gold ETF News

The uptick also shows that investors are regaining confidence in gold, as it continues to offer stability amid mixed signals from equity and bond markets. 

Amfi asks the government for preferential tax treatment for Gold ETFs and Fund of Funds ahead of the Union Budget. At present, Gold ETFs and Fund of Funds are currently subject to capital gains tax which is in line with other gold investment avenues. Currently, equity-linked savings schemes qualify for tax benefits under Section 80 CCC of the Income Tax Act for an investment limit of up to Rs 1.5 lakh in a fiscal year.

This was, however, lower than the net inflow of Rs 446 crore seen in September. Before this, the segment saw a net inflow of Rs 24 crore in the previous month, data with Association of Mutual Funds in India (Amfi) showed.

Gold buyers are unable to buy physical gold due to lockdowns. For buying Gold ETF, you don’t need a Demat account. Digital gold is one of the most popular physical gold alternatives.

How much tax you are liable to pay on sale of gold? We are discussing 4 types of holding gold. India is the world’s second-biggest consumer of gold.

Within the investment category, while the demand for bars and coins declined by 32 percent to 148.8 tonne. the electronic traded fund (ETFs) in gold and similar products surged by a whopping 300 per cent to 434.1 tonne. COVID-19 created the perfect storm for gold investment as historic liquidity injections and record low interest rates significantly cut the cost of carrying gold.

Gold ETFs are passive investment instruments. Gold ETFs are based on price movements and investments in physical gold. They are exchange traded funds of gold and a person can hold units of gold in demat form in more cost effective manner.

Akshaya Tritiya, a holy day for Hindus and Jains, is believed to bring good luck and success.

In a bid to boost investment in gold, the GST Council, last year, provided relief to this sector by withdrawing KYC norms and PMLA.

Trading in gold ETF has been lukewarm in the previous four fiscals.

Spot gold was up 0.3 percent at USD 1,280.64 per ounce, after hitting $1,281.92 an ounce, its highest since June 8.

Gold exchange traded funds (ETFs) continued losing steam as an investment class with investors pulling out more than Rs 200 crore from the instrument in the first quarter of the current fiscal, preferring equities over them.

As per Amfi data, the Rs 19.04 trillion AUM industry has seen a massive outflows in April and May this year at Rs 64,692 crore and Rs 40,711 crore, respectively, primarily due to corporates withdrawing their short-term parked cash.  

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Investors remained bearish on gold exchange-traded funds (ETFs) as they pulled out Rs 775 crore from the instrument in the last fiscal, making it the fourth consecutive financial year of outflow.

Gold exchange-traded funds (ETFs) saw a net outflow of Rs 35 crore in January, taking the total to Rs 649 crore in the first 10 months of the current fiscal, primarily on account of profit booking.

Investors pulled out Rs 77 crore from gold exchange-traded funds (ETFs) in September, taking the total withdrawal to Rs 539 crore in the first six months of the current fiscal.

Investors remained bearish on gold exchange-traded funds (ETFs) in June and pulled out Rs 80 crore from this instrument, taking the total to Rs 228 crore in the first quarter of the current financial year, mainly on account of profit booking.  

Investors pulled out Rs 21,535 crore from various mutual fund (MF) schemes in June, making it the second consecutive monthly outflow, primarily due to huge redemption from money market segment.

Gold hit its highest in more than a year on Friday, extending the previous day's 2 percent rally as oil prices declined and the dollar softened, while traders awaited a closely watched payrolls report from the United States