Corona Virus: Gold attracts gold, investing in gold ETF to its highest level

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Mumbai, March 12, 2020 Thursday

Investors are also looking at safe options amid the Corona virus epidemic, with the Gold Exchange-Traded Fund (Gold ETF) closing at Rs 1483 crore in February during the recession in the economy, which is at its all-time high.

This is the fourth month in a row that there has been a net investment in Gold ETF, this investment in Gold ETF has come at a time when the market is experiencing strong sales, and crude oil prices have fallen sharply internationally.

According to new data from the Association of Mutual Funds in India, gold ETFs invested Rs 1483 crore purely in February, which is the highest level of liquidity ever.

Due to a declining stock market and cheap crude oil

In the first month of last month, gold ETFs were invested at Rs 202 crore, the highest level in the last 7 years.

Investments of Rs 7.68 crore were reported in November, however, in October, investors cleared Rs 31.45 crore from gold ETFs. In September, gold ETFs were invested at Rs 988 crore.

According to Morningstar Investment Advisor, the coronavirus is spreading rapidly around the world, with the global economy taking its toll.

Investors' attraction to gold, which favors secured investment options, is on the rise, with gold ETFs reaching the highest levels in February.

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