Net assets under management of gold ETFs stood at a record Rs 67,635 crore last month, a 51% year-on-year increase. It is to be noted that the AUM also reflects the appreciation in bullion prices.
In July, the average gold spot price rate on the MCX was Rs 97,481 per 10 grams, up 2.5% over the previous month.
Gold ETFs are a proxy and tax-efficient way of investing in the precious metal, without the need to physically store it. There are over 20 bullion ETFs in India, with the largest being Nippon India ETF Gold BeES.
Global gold ETFs continued to see inflows in July, dominated by North America and Europe, according to the World Gold Council. Investors added $3.2 billion in such funds.
