Gold ETFs appeal to Rs 446-cr in Sep; influx could proceed in coming months

Gold exchange-traded funds (ETFs) attracted Rs 446 crore in September and influx could proceed in coming months as a result of sturdy demand on the again of competition season within the nation.

The was sharply greater than the web influx of Rs 24 crore recorded within the earlier month. In July, the class noticed a internet withdrawal of Rs 61.5 crore, knowledge with the Affiliation of Mutual Funds in India (Amfi) confirmed.

With this, gold ETF class has acquired a internet influx of Rs 3,515 crore to this point. The phase witnessed only one month of internet outflows, which was in July.

The most recent influx helped in pushing the variety of folios within the class by over 14 per cent to 24.6 lakh in September from 21.46 lakh within the previous month. To date this 12 months, the folio numbers have surged by 56 per cent.

Market specialists attributed the influx in September to correction within the worth of the yellow steel and onset of the competition season within the nation.