Attracting investors in equities as well as gold ETFs

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Mumbai, Ta. 09 November 2020, Monday

Even though the country's equity markets have reached historic highs, investors are still attracted to gold ETFs at an indefinite time. According to the Association of Mutual Funds in India (AMFI), gold ETFs saw a net inflow of Rs 3 crore in October. There are a total of 11 ETFs schemes in operation in the country.

Gold ETFs' overall asset under management has increased to Rs 15 crore. The equity market benchmark index, the Sensex, rose four per cent in October.

Gold ETFs have had a net inflow of Rs 500 crore in the three months ended September 30. Investors are investing in gold to hedge their risky assets in view of the uncertainty created by the corona.

In the current year, gold prices were seen at a record level of Rs 200 in the futures market. However, there were retreats in September and October. In the current calendar year, investors are getting more than 50 per cent return on gold. Interest rates have been cut to record lows by the US Federal Reserve, the Bank of England and the European Central Bank, prompting investors to turn to gold.

The election of a new US president is now clear, paving the way for Corona-related stimuli that will support the gold rally, an analyst said.


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