Gold exchange-traded funds see 5th consecutive month of inflows in August

Inflows in August came despite gold price coming off its all-time high, though it has risen 30% in the first eight months of the year

Gold-backed exchange-traded funds (ETFs) recorded a fifth consecutive month of inflows in August. Mutual fund (MF) schemes mimicking returns of the yellow metal saw investor flows of Rs 908 crore, taking their year-to-date tally to Rs 5,360 crore.

Inflows in August came despite gold price coming off its all-time high, though it has risen 30 per cent in the first eight months of the year. The average gold price for the month was five per cent lower than the previous month. Interestingly, August was the first month of 2020 when gold investments yielded negative returns.

“Gold price came off its