Inflows in Gold Exchange Traded Funds (ETFs) witnessed a surge in the current calendar year, amid gains in yellow metal prices ahead of Dhanteras.
Inflows into these funds have increased by nearly 88 per cent since the beginning of 2024, totalling Rs 1,232.99 crore in September, ICRA Analytics said in a statement.
Gold prices advanced Rs 450 to hit another record of Rs 79,350 per 10 gram in the national capital on Thursday on the back of continued buying by jewellers and stockists, according to the All India Sarafa Association.
Investors are drawn to gold ETFs due to their liquidity, transparency and global price alignment, which remains firm due to geopolitical headwinds.
Concerns about physical gold storage, purity and theft have also contributed to the growing interest in such funds, ICRA said.
According to ICRA Analytics Senior Vice President and Head Market Data, Ashwini Kumar, the US Federal Reserve’s potential interest rate cut in the coming months is further boosting the .
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