InvestorQ : How are gold ETFs doing in terms of collections?
prachi Patwardhan made post

How are gold ETFs doing in terms of collections?

Answer
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5 months ago


The irony of gold demand is that it normally gets the maximum demand when the prices are elevated. With the uncertainty in the world and the sharp spike in gold prices, gold is back to being the preferred asset class for investors. That is indicated by the increase in demand for gold-backed ETFs. The quarter ended Mar-20 saw gold net assets of ETFs growing by 298 tonnes or an equivalent of $23 billion tonnes. This accretion comes on top of the 659 tonnes of gold added in the calendar year 2019. The AUM of global gold ETFs now stands at an all-time record of 3185 tonnes as gold is fast emerging as the safe haven asset class. That trend is visible in India also although the quantum is much smaller.