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Gold ETFs register outflow of Rs 511 crore during April-November period

12 Dec 2017 Evaluate

Investors have pulled out a net sum of Rs 511 crore from 14 gold-linked exchange-traded funds (ETFs) in the April-November period of the current fiscal. In comparison, a net amount of Rs 588 crore was withdrawn from the instrument in the year-ago period.

According to the data compiled by the Association of Mutual Funds in India (AMFI), withdrawal of Rs 66 crore was seen in April this year, Rs 71 crore in May, Rs 81 crore in June, Rs 38 crore in July, Rs 58 crore in August, Rs 74 crore in September, Rs 34 crore in October and another Rs 89 crore in November.

Gold ETFs are passive investment instruments that are based on price movements and investments in physical gold.