Gold ETF: Despite the decline in investment in gold ETFs, the Asset Under Management (AUM) of Gold ETFs increased by 6 per cent to Rs 16,625 crore at the end of May, from Rs 15,629 crore at the end of April.
Net investment in Gold Exchange Traded Funds (ETFs) declined by 57 per cent to Rs 288 crore in May as compared to the previous month. Investment in Gold ETFs has decreased due to investors turning to the stock markets. According to the data of Association of Mutual Funds in India (Amfi), the Asset Under Management (AUM) of Gold ETFs increased by 6 per cent to Rs 16,625 crore at the end of May, from Rs 15,629 crore at the end of April, despite declining investment in Gold ETFs. crores was Rs.
According to the data, a net investment of Rs 288 crore was made in Gold ETF in May. In April, this figure was Rs 680 crore. Investors had put Rs 662 crore in gold ETFs in March. His investment was Rs 491 crore in February and Rs 625 crore in January.
Investment in Gold ETF decreased due to strength in the stock market
Himanshu Srivastava, Associate Director, Research, Research, Morningstar India, said, “The reason for the decline in gold ETF investments in May is because the stock markets are performing very well and investors are shifting a large part of their investments towards equities.
Effect of profit booking
Besides, withdrawals from gold ETFs have also increased in May as compared to April, which shows that some investors are reaping profits after the recent rally in gold prices, he said.
Gold hallmarking starts from today
Hallmarking has become mandatory on gold jewelery and related items from June 5, 2021. Earlier the deadline to implement it was June 1, which was extended for 15 days due to the COVID-19 pandemic.
With the new rule, it will be mandatory for all jewelers to affix hallmarks on gold jewelery so that customers going to buy gold do not feel cheated and instead get pure jewellery.
read this also- 7th pay commission: These government employees got a gift, now apart from DA, they will get increased medical claim
read this also- This bank will meet the need of money in emergency, there will be no need to break FD