Investors continue to be bullish on gold ETFs; invest Rs 491 crore in Feb

Investors pumped Rs 491 crore in gold exchange-traded funds (ETFs) in February as they seem be taking advantage of the lower domestic prices caused due to declining international rates, appreciating rupee and reduction in custom duty.

This came following a net investment of Rs 625 crore in January and Rs 431 crore in December. Prior to this, gold ETFs had seen an outflow of Rs 141 crore in November, Association of Mutual Funds in India data showed. Continuing flows in gold ETFs further indicate increased acceptance of these efficient forms of owning gold. “With gold prices having corrected by 9 per