Stock market volatility boosts investments in gold ETFs in India: WGC
Live MintNew Delhi, : The stock market volatilities have boost the investments in the gold Exchange Traded Funds in India, as the country witnessed its eighth consecutive month of inflows into ETFs in December 2024, the world Gold Council stated in its commentary.The trends for gold ETFs reflect rising investor interest in the metal as equity market volatility persisted. A volatile equity market environment coupled with heightened global geopolitical risks steered Indian investors toward gold as a safe-haven asset, the report added. Despite minor declines in collective holdings, total assets under management jumped by 26 per cent to a record USD 271 billion, driven by a rocketing gold price and net inflows amounting to USD 3.4 billion. Earlier in the previous week, the WGC stated that India's year-to-date purchased 73 tonnes of gold with total gold reserves of 876 tonnes as on November end, making it the second-largest buyer of 2024 after Poland.