Investors continued to pull out money from gold Exchange-Traded Funds (ETFs) taking the total outflows to Rs 773 crore in the first 11 months of 2017-18 mainly due to poor returns and volatility in prices.
As per the data compiled by Association of Mutual Funds in India (AMFI), a net sum of Rs 94 crore was pulled out from 14 gold-linked ETFs in February, as compared to an outflow of Rs 46 crore in the same month in 2016-17.
Investors have pulled out Rs 94 crore from gold ETFs in February, while in January a net amount of Rs 110 crore was withdrawn from the instrument.
Gold ETFs are passive investment instruments that are based on price movements and investments in physical gold.