Market

Gold ETFs attract Rs 446-cr in Sep; inflow may continue in coming months

Gold exchange-traded funds (ETFs) attracted Rs 446 crore in September and inflow may continue in coming months resulting from sturdy demand on the again of pageant season in the nation.

The was sharply increased than the online inflow of Rs 24 crore recorded in the earlier month. In July, the class noticed a internet withdrawal of Rs 61.5 crore, information with the Association of Mutual Funds in India (Amfi) confirmed.

With this, gold ETF class has obtained a internet inflow of Rs 3,515 crore to this point. The phase witnessed only one month of internet outflows, which was in July.

The newest inflow helped in pushing the variety of folios in the class by over 14 per cent to 24.6 lakh in September from 21.46 lakh in the previous month. So far this year, the folio numbers have surged by 56 per cent.

Market consultants attributed the inflow in September to correction in the value of the yellow steel and onset of the pageant season in the nation.

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