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Investor wealth in gold ETFs hits record high

Rising gold prices and continuing investment flow in the yellow metal has pushed the size of assets held through gold exchange traded funds to an all-time high of Rs 11,198 crore.

Written by Press Trust Of India | New Delhi | Published: October 11, 2012 12:41:15 am

Rising gold prices and continuing investment flow in the yellow metal has pushed the size of assets held through gold exchange traded funds to an all-time high of Rs 11,198 crore.

The surge in asset size of gold funds has come at a time when the government is contemplating steps to encourage large flow of household savings into equity,mutual funds and other instruments,rather than into idle assets like gold.

According to data compiled by mutual fund industry body AMFI,the assets under management of gold ETFs crossed the Rs 11,000 crore mark in September from Rs 10,701 crore in August.

In June,investor wealth in gold ETFs surpassed the psychological mark of Rs 10,000 crore; it was just above Rs 5,000 crore level till a few months ago in May 2011.

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