Diabytes
Gold Funds News
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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.
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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.
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Gold exchange-traded funds (ETFs) saw a net outflow of Rs 46 crore in February, taking the total to Rs 695 crore in the first 11 months of the current fiscal, primarily on account of profit booking.
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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.
The fund`s activities could take in the launch of gold-backed exchange-traded funds and buying stakes in listed gold companies and mining firms.
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