Mumbai, 7 November (IANS). Gold exchange traded funds (ETFs) in India have recorded a net inflow of $850 million in October, taking the total inflows this year to a record $3.05 billion, the largest ever figure for investment in gold ETFs. This information was given in the data released by the World Gold Council (WGC).
Although the inflow recorded in October was 6 per cent lower than the $911 million in September, it was the second largest monthly inflow in Asia.
According to the data, this is the fifth consecutive month when inflows into gold have been positive, taking the total AUM to $11.3 billion.
Globally, global gold ETF inflows have reached $8.2 billion last month.
India ranked third globally in gold ETF investments during October. At the same time, America stood first with an investment of $6.33 billion and China stood second with $4.51 billion. Japan was fourth with $499.5 million and France was fifth with $312 million.
On the other hand, last month saw withdrawals from gold ETFs in many European markets, with the UK on top with $3.5 billion. This was followed by Germany and Italy.
Global gold ETF AUM increased 6 per cent month-on-month to $503 billion and total holdings increased 1 per cent to 3,893 tonnes.
This year, gold prices have seen an increase of about 50 percent, which has attracted a large number of investors.
According to India Bullion Jewelers Association (IBJA), the price of 10 grams of 24 carat gold is Rs 1,20,231.
The main reasons for the rise in gold in recent months are global instability, Russia-Ukraine and Hamas-Israel wars and American tariffs.
–IANS
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