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2 new gold ETFs launched

ByVictoria

New Delhi, Jul 10 (PTI) Gold Exchange Traded Fund (ETF) attracted a net sum of Rs 2,081 crore in June, making it the highest monthly inflow in five months, driven by resilient prices of the yellow metal, geopolitical uncertainties and volatility in equity markets.

“The robust inflows in June indicate a decisive shift in sentiment, likely supported by resilient gold prices, geopolitical uncertainties, and volatility in equity and fixed income markets, which have revived gold’s appeal as a safe-haven asset,” Nehal Meshram, Senior Analyst-Manager Research, Morningstar Investment Research India, said.

In June, two new Gold ETFs were launched, collectively mobilising Rs 41 crore.

“While the fund mobilisation through new launches remained modest, it adds to the broader recovery in flows and reflects steady investor interest in the asset class,” Meshram said.

Source – rediff

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    ByVictoria
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    Gold prices rose to a two-week high on Tuesday, supported by post-holiday buying from China and concerns over potential U.S. tariffs on pharmaceutical imports, while investors await the outcome of the Federal Reserve’s policy meeting.

    Spot gold was up 1.9% at $3,395.94 an ounce at 1200 ET (1600 GMT). Earlier in the session, prices rose around 2% to the highest since April 22, when they hit a record high of $3,500.05/oz.

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