Wednesday, February 12, 2025
News

Stock market volatility boosts investments in gold ETFs in India: WGC

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

New Delhi | January 9, 2025 9:42:17 AM IST
The stock market volatilities have boost the investments in the gold Exchange Traded Funds (ETFs) in India, as the country witnessed its eighth consecutive month of inflows into ETFs in December 2024, the world Gold Council (WGC) stated in its commentary.The trends for gold ETFs reflect rising investor interest in the metal as equity market volatility persisted.

The gold price today for 10 grams of 24k gold (99.9 per cent) in Delhi, India is 79,830.00 Indian Rupee.

The WGC further highlighted that the pace of inflows has moderated compared to earlier months.

The surge in gold investments can be attributed to a combination of domestic and international factors.

A volatile equity market environment coupled with heightened global geopolitical risks steered Indian investors toward gold as a safe-haven asset, the report added. Additionally, expectations of further rate cuts by central banks worldwide fueled optimism in the bullion market.

Globally, gold ETFs achieved a milestone in 2024, marking their first annual inflow in four years.

Despite minor declines in collective holdings, total assets under management (AUM) 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.

This marked the strongest annual gold price performance since 2010.

Asian markets, including India, played a pivotal role in boosting global gold ETF inflows.

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.

The National Bank of Poland (NBP) emerged as the largest buyer of gold in November, increasing its reserves by 21 tonnes to reach a total of 448 tonnes.

Gold accounts for nearly 18 per cent of Poland's total reserves, just shy of its 20 per cent target. With year-to-date purchases of 90 tonnes, NBP has maintained its position as the top gold buyer of 2024.

The Central Bank of Uzbekistan also made significant additions, increasing its reserves by 9 tonnes after a hiatus since July. (ANI)

 
  LATEST COMMENTS (0)
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
 
MORE BUSINESS NEWS
Brazil's Petrobras looking to partner wi...
Beyond Opulence - The Future of Premium ...
Meet the Innovators: Top 10 Companies Sh...
NPST Wins Multiple Awards at the Bharat ...
India's natural gas consumption to incre...
My Home Upper Kharadi Records 80+ Bookin...
More...
 
INDIA WORLD ASIA
Mumbai police nabs man from Chembur area...
Guillain-Barre Syndrome Syndrome: Mumbai...
'INDI alliance leaders compete regarding...
CM Yogi convenes meeting to monitor Magh...
Prayagraj: Flower petals showered on dev...
Assam police apprehend member of Manipur...
More...    
 
 Top Stories
Shikhar recalls "gutsy" advice from... 
"I used a lot of law of attraction.... 
Malabar Gold & Diamonds to Ente... 
Fire breaks out at Sitara Centre ex... 
Lotus Makhana Unveils Revolutionary... 
PM Modi, Macron visit Cardache Ther... 
Aamir Khan, Salman Khan's iconic co... 
"You cannot buy experience....": Dh...