Gold ETFs witness net inflow

Chennai: After the recent bull-run in gold prices, interest in gold ETFs has started catching up in India. Gold ETFs have witnessed net inflow in August, after a gap of nine months.

Global gold ETFs have been consistently increasing their holdings for the past three months, supporting the overall sentiments. However, Indian market saw the investment interest catching up only in August.

Gold Exchange Traded Funds recorded a positive net inflow of Rs 145 crore in August, as per data from the Association of Mutual Funds in India. This increased the assets under management of gold ETFs to Rs 5,798 crore from Rs 5,080 crore at the end of July.

Gold ETFs have been witnessing net outflows every month for more than six years, except for November 2018. In November, gold ETFs had recorded a net inflow of Rs 10 crore.