Gold ETFs clock ₹141-cr. outflow in Nov.

BUSINESS UPDATES


After seven straight months of net inflows, gold exchange traded funds witnessed a pull-out of ₹141 crore in November primarily on the back of profit-booking by investors.

In comparison, the category saw a net inflow of nearly ₹8 crore in November 2019, data with the Association of Mutual Funds in India (Amfi) showed.

“With positive development around COVID-19 vaccine, economies moving towards normalcy and equity markets doing well, there is uncertainty over the direction of gold prices going ahead,” said Himanshu Srivastava, associate director manager research at Morningstar India.

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