This was because of the closure of retail shops and factories after the nationwide lockdown was imposed to prevent spread of Covid-19, and a sharp increase in the metal's price.
Earlier, the RBI had imposed similar restrictions on commercial banks and NBFCs.
Experts attributed the inflows to sudden rally in gold prices, mainly due to uneasy trade negotiations between the US and China and lower than expected global GDP growth.
Gold is no longer physical wealth but a paper asset whose value can fluctuate widely.
The inflows meant assets under management of gold ETFs climbed by over 4 per cent to Rs 13,503 crore at the end of August from Rs 12,941 crore at July-end.
Tips for getting insurance cover and renting bank lockers for gold.
This could change the way diamonds are traded.
The government should partner with commodity exchanges such as MCX.
The Rs 84,000 crore domestic fund of funds (FoFs) space, which was in the doldrums over the past 18 months, has now caught the attention of investors due to a change in the tax structure in Budget 2024. The broader category, which includes offerings across equity, debt and commodities, has seen a spike in the inflows over the past two months. FoFs typically deploy the pooled capital in one or multiple MF schemes rather than investing directly into equities, debt or commodities.
The RBI is still a small player in international gold buying among central banks. But in terms of total gold bought in 2019, it is the sixth largest buyer with 25.2 tonnes purchases in the first 10 months of 2019.
Ratio trading in gold and silver prices is a trading tool.
Move 10 per cent of your portfolio to the yellow metal.
In 2013-14, the funds witnessed outflow of Rs 2,293 crore
'By investing in a basket of funds, FoFs can help minimise the impact of underperforming funds, thus reducing overall investment risk.'
The 44-player industry logged assets under management of Rs 26.33 lakh crore in October-end, as compared to Rs 27.04 lakh crore by November end, representing a growth of 3 per cent. Among debt-oriented schemes, overnight funds received flows worth about Rs 20,650 crore, the highest among the fixed-income segment last month.
Smallcap mutual funds recorded net outflows for the first time in 30 months in March as investors pulled out money after the markets regulator, the Securities and Exchange Board of India (Sebi), warned against "froth" in the mid and smallcap space. Active equity mutual fund (MF) schemes raked in Rs 22,600 crore in March. The March inflow is 16 per cent lower than the two-year high inflow of Rs 26,860 crore in February, shows data from the Association of MFs in India (Amfi).
'Gold could benefit from the resulting risk aversion, as happened last year.'
Despite price correction, policies that support the yellow metal will remain in place in the foreseeable future.
Consumers during the quarter sold 37.9 tonnes of old gold, which is the highest quarterly sale after September 2016, when old gold sale, or scrap supply, was 39 tonnes.
Equity mutual funds attracted Rs 8,898 crore in July, a 43 per cent decline compared to the preceding month as markets continued to remain volatile amid concerns over inflation and rate hike expectations. For the 17th straight month, equity mutual funds witnessed inflows in July. The net inflows in July were lower compared to Rs 15,495 crore seen in June, Rs 18,529 crore in May and Rs 15,890 crore in April, according to data released by Association of Mutual Funds in India (Amfi) on Monday.
'Understand how wedding expenses fit into your overall financial situation.' 'Evaluate how different levels of spending will impact other goals like retirement, travel, or housing.'
The net inflows into active equity mutual fund (MF) schemes registered more than a twofold month-on-month rise in August, crossing Rs 20,000 crore, the highest in five months. This rise in net inflows was boosted by an 18 per cent growth in gross investments, driven by a record Rs 15,800 crore inflow through the systematic investment plan (SIP) route and Rs 5,000 crore collected by seven new fund offers (NFOs) in the active equity space, reveals data released by the Association of Mutual Funds in India (Amfi). Moreover, redemptions moderated in August, declining by 19 per cent to Rs 24,580 crore, after staying elevated in the previous three months owing to profit booking.
Given the uncertainties around gold's future course, stagger your purchases and buy on declines, says Sanjay Kumar Singh.
While the minimum holding period for LTCG taxation has now been lowered, the tax outgo could be a bit higher under the new structure.
While players like Paytm, MobiKwik, and PhonePe allow you to buy gold for Rs 1, Amazon Pay has kept the minimum amount at Rs 5. Digital gold is essentially an avenue for investing in physical gold.
Are you debating between buying physical gold and investing in paper gold schemes or ETFs? Anil Rego has the answer
Mutual funds have launched a clutch of new fund offers in the silver ETF (exchange traded fund) category this year and collected Rs 1,400 crore in assets after the introduction of the newly-created investment asset class by market regulator Sebi in 2021. Further, fund houses including Kotak Asset Management Company have filed draft documents with the markets regulator to float silver ETF as well as silver ETF fund of funds for investors, information with the Securities and Exchange Board of India (Sebi) showed. These NFOs (new fund offers) are providing an opportunity to the investors to digitally invest and own silver which is easily tradable during market hours.
Geopolitical climate and equity markets as supportive for gold's role as a risk hedge.
Indian retail investors continue to sell gold ETFs.
Gold is seen as a preferred asset for all types of investors, even central banks.
Such an economic environment tends to be positive for gold, the ultimate safe-haven asset. Since gold cannot be debased by central banks, it naturally gains in value.
Private-equity funds made an average annual return of just 7 per cent between January 2007 and December 2013 while the Sensex was up 11 per cent.
Investors should view the increase in the LTCG tax rate in conjunction with the increase in capital gains exemption from Rs 1 lakh to Rs 1.25 lakh, which will provide some relief.
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Gold prices have eased off in recent months after the formation of a new government bringing in positive sentiment back to the stock market.
Dwaipayan Bose examines the seven important factors that investors about exchange traded funds must know before they start investing/trading in them.
The securities regulator's approval for the first US-listed exchange traded funds (ETF) to track bitcoin has given Indian cryptocurrency companies hope that the move would create domestic support for the digital assets. The US Securities and Exchange Commission (SEC) on Thursday approved 11 ETFs for bitcoin, perhaps the most popular virtual currency. It would enable investors to access bitcoin without challenges such as setting up wallets or accounts with crypto exchanges that have previously suffered cyberattacks or implosion.
Funds collected by the mutual fund will be invested in gold and hence the net asset value of the ETF will be largely dependent upon price of gold minus the administrative costs of the AMC and the mutual fund.
The move is meant to curb or reverse the export of India's financial markets to overseas trading platforms.
A portfolio can be rebalanced by either selling a portion of the outperforming asset class or by buying more of the underperforming asset class.
The country's 44 fund houses together garnered an average Asset Under Management) of Rs 9.04 lakh crore (Rs 9.04 trillion) during the January-March quarter of 2013-14, up from Rs 8.76 lakh crore (Rs 8.76 trillion) in the previous three-month period, Crisil said attributing the data to the Association of Mutual Funds in India.
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