LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » India News

Investors exit gold ETFs, withdraw Rs 130 crore in two months

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Investors exit gold ETFs, withdraw Rs 130 crore in two months
People busy buying jewellery on "Akshaya Tritiya" in New Delhi. Image Source: IANS
Written By: PTI
Updated: Sun, Jun 11, 2017
10:20 am
PTI
RELATED NEWS
In pandemic season, not gold, but cigarettes is where smuggling rings are making big money In pandemic season, not gold, but cigarettes is where smuggling rings are making big money
Gold Price today 19-04-2021: Expert says rates may dip till Rs 47600-Rs 47500 levels Gold Price today 19-04-2021: Expert says rates may dip till Rs 47600-Rs 47500 levels
Gold imports rise by 22.58% to $34.6 bn in 2020-21 Gold imports rise by 22.58% to $34.6 bn in 2020-21
Gold Price Today 18-04-2021 – Be prepared to pay more for Gold, Silver; not just coronavirus, bullion prices may jump because of THIS reason Gold Price Today 18-04-2021 – Be prepared to pay more for Gold, Silver; not just coronavirus, bullion prices may jump because of THIS reason
Gold Price: MCX Gold price has support around Rs 46660, Rs 46956 and resistance at Rs 47411 and Rs 47570 Gold Price: MCX Gold price has support around Rs 46660, Rs 46956 and resistance at Rs 47411 and Rs 47570

Investors remained bearish on gold exchange traded funds (ETFs) and pulled out more than Rs 130 crore from the instrument in the first two months of the current fiscal, preferring to invest in equities.

Trading in gold ETF segment has been tepid during the last four financial years. It had witnessed outflows of Rs 903 crore, Rs 1,475 crore and Rs 2,293 crore in 2015-16, 2014-15 and 2013-14 respectively.

However, the pace of outflow slowed in 2016-17 as compared to the preceding three years as investors are focusing on investments in equity as an asset class, an expert said.

According to the latest data available with Association of Mutual Funds in India (Amfi), a net sum of Rs 66 crore was pulled out in 14 gold-linked ETFs in April and another Rs 71 crore in May, taking the total to Rs 137 crore.

Gold ETFs have been continuously seeing a withdrawal. It has last seen an inflow of Rs 20 crore in October. Prior to that, an inflow of Rs 5 crore was witnessed in such instruments in May 2013.

On the other hand, equity and equity-linked saving scheme (ELSS) saw an infusion of around Rs 20,000 crore during the period under review.

The asset base of gold funds dropped to Rs 5,298 crore at the end of May from Rs 5,377 crore in April-end. It was at Rs 5,480 crore at the end of last fiscal.

"International gold prices have remained in the range of USD 1,050-1,350 per ounce after falling off the highs of USD 1,900 in 2012-13," Kaustubh Belapurkar Director of Fund Research at Morningstar said.

Gold prices moved up from lows of USD 1,050 in 2015 to USD 1,350 in late 2016, but have recently corrected again. Given that the rupee has strengthened against the dollar, it has resulted in the domestic prices of gold falling even further.

"This coupled with the fact that the domestic equity markets have been doing well, Gold Funds/ETFs are not a very popular investment option currently with investors. Investors have not been allocating fresh funds to these funds and marginally pulling out assets over the last four years," Belapurkar said.

Gold ETFs are passive investment instruments that are based on price movements and invest in the metal. 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
goldETFsexchange trade fundsInvestmentmutual fundsMFsEconomy
RELATED NEWS
In pandemic season, not gold, but cigarettes is where smuggling rings are making big money In pandemic season, not gold, but cigarettes is where smuggling rings are making big money
Gold Price today 19-04-2021: Expert says rates may dip till Rs 47600-Rs 47500 levels Gold Price today 19-04-2021: Expert says rates may dip till Rs 47600-Rs 47500 levels
Gold imports rise by 22.58% to $34.6 bn in 2020-21 Gold imports rise by 22.58% to $34.6 bn in 2020-21
Gold Price Today 18-04-2021 – Be prepared to pay more for Gold, Silver; not just coronavirus, bullion prices may jump because of THIS reason Gold Price Today 18-04-2021 – Be prepared to pay more for Gold, Silver; not just coronavirus, bullion prices may jump because of THIS reason
Gold Price: MCX Gold price has support around Rs 46660, Rs 46956 and resistance at Rs 47411 and Rs 47570 Gold Price: MCX Gold price has support around Rs 46660, Rs 46956 and resistance at Rs 47411 and Rs 47570

LATEST NEWS

PUBG update: Alert! PUBG Mobile India may release on THIS date? Here's all you need to know

Tesla strengthens India team ahead of rolling out electric cars

WhatsApp update: Android users to get new WhatsApp features soon - Check all details here

Haryana Schools Closed Latest News Today: Summer vacation announced early in the state due to rise in the number of COVID cases - check all details here

Fundraising via bonds on private placement basis climbs 14 pc to Rs 7.72 lakh cr in FY 21

Garena Free Fire redeem codes update: Check how to grab special redeem codes, free rewards and more

ALERT! SBI names company, says beware of this fake loan provider; has it contacted you?

Apex Legends Mobile: Check pre-registration link, expected release date, first look, features and more

Covid-19 fears persist, YES Bank share price declines by nearly 3.5% in last one week

Wipro share price: Expert pegs price target at Rs 545, stop-loss at Rs 440

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved