Gold ETF Investors’ interest increased, Rs 841 crore came in October

New Delhi, November 10 (PT): Investors’ interest in the Gold Exchange Traded Fund (ETF), which is considered a safe investment during uncertain times, has increased rapidly. They invested Rs 841 crore in these investment schemes in October, whereas in the previous month, this figure was Rs 175 crore.
According to the data of the Association of Mutual Funds in India (AMFI), during the period under review, the Gold ETFs asset base also increased. Purchasing of gold and silver on the occasion of Diwali-Dhanteras started with a positive trend on Friday. It gained
momentum due to improvement in consumer demand along
with the softening of gold prices.
It is noteworthy that India is the world’s largest consumer of gold. Morningstar Investment Advisors India Analyst and Research Manager Melvin Santarita said that with the current Geopolitical tensions, Fear of increased interest rates in America, and high levels of inflation, due to persistence and a slow growth rate demand for gold increased as a safe investment happened. According to statistics related to gold ETF total of Rs 841 crore in these investment schemes came in October, whereas in the previous month, this figure was Rs 175 crore. In August Rs 1,028 crore were invested in this category
, which had the highest monthly flow in the last 16 months.