December 10, 2023
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Gold ETFs lose shine
The quantum of net flows into Gold ETFs dipped to Rs 333 crore in November from Rs 841 crores it received in October. With ongoing geo-political tensions, US inflation still higher than the desired number, the appeal of Gold as a safe haven and hedge against inflation is expected to continue.
“Also recently, gold prices in US Dollar terms scaled new highs after going past the $2,100 per ounce mark. Given this backdrop, there could be some profit booking in the near term. However, with the perceived risks overall, flows could continue to be positive going ahead,” said Melvyn Santarita, Analyst, Morningstar Investment Research India Private Limited.
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