Indians buy electronic gold despite volatile price

AMFI chief executive NS Venkatesh said, “Gold investment is continuing to be seen as a haven for investors.

Chennai: Investments in Gold exchange-traded fund (ETF) remained in positive territory with net inflows at Rs 908 crore in August, despite volatility seen in gold rates, showed data from The Association of Mutual Funds in India (AMFI).

This raises the net asset under management of the gold ETF basket toRs 13,503 crore at the end of August.

AMFI chief executive NS Venkatesh said, “Gold investment is continuing to be seen as a haven for investors.

Despite persistent volatility and challenging economic scenario, retail investors continue to exhibit mature investment behavior, reflected from record high retail assets under management (AUM)s, continued rise in SIP AUMs, SIP folios, and significantly higher quantum of flows towards multi asset allocation schemes during the month.”

However, the new Gold ETF folios added were lower at 53,572 folios in August compared to 61,338 new folios last month.

Courtesy: Economic Times