Industry experts said positive returns given by the equity market have resulted in Indian investors largely staying away from investing in gold ETFs
Holdings in bullion-backed ETFs hit 2,268.6 metric tons last week, the most since 2013, data compiled by Bloomberg show
Amid exodus, Gold ETF AUM plunged over 15% during the first 10 months to Rs 49.06 bn, against Rs 56,70 bn a year earlier; a sixth of the total outflow, or Rs 1.1 bn, came in January alone
Pace of outflow slowed down in 2015-16 as against the preceding two years on account of sluggish equity market
According to data available with Amfi, Gold ETFs witnessed a net outflow of Rs 80 crore in June
Standard gold price in Mumbai market is up 11.7% at Rs 29,910, against Rs 26,780 a year ago
Investors pull out Rs 79 cr, taking total to Rs 148 crore in first two months of current financial year
In 2013-14, the funds witnessed outflow of Rs 2,293 crore