Gold exchange-traded funds (ETFs) have witnessed a turnaround in flows. While flows were negative in the September and December quarters of 2022, as well as the March quarter of 2023, they turned positive (Rs 298 crore) in the June quarter of 2023. They rose further to Rs 456 crore in July and then in August, they touched a 16-month high of Rs 1,028 crore.
Fourteen gold ETFs, which have provided an average year-to-date return of 6.2 per cent, currently manage assets worth Rs 24,423 crore.
Safe-haven appeal driving flows