New Delhi: An investment of Rs 815 crore was made in Gold Exchange Traded Fund (ETF) in May amid stock market fluctuations due to Corona virus crisis. The reason for this is that investors are now turning to safer investment options. The category has outperformed other properties over the past year.
A total investment of Rs 3,299 crore has come in Gold ETFs since August 2019. According to the latest data from the Association of Mutual Funds in India (Amphi), the net investment in the May Gold ETFs stood at Rs 815 crore. It had an investment of Rs 731 crore in April. However, there was a withdrawal of Rs 195 crore in March. Earlier, it had an investment of Rs 1,483 crore in February and Rs 202 crore in January.
It had an investment of Rs 27 crore in December last year and Rs 7.68 crore in November. Investors withdrew Rs 31.45 crore from this category in October. Harsh Jain, co-founder and chief operating officer of Gro, said, “Investments in gold ETFs remain high compared to the months before the epidemic. Many investors are preferring to invest in gold, given the fluctuations in the market. “