GJ Town India

  Report on Global gold-backed ETFs published A popular gateway to the gold market!   The World Gold Council (WGC) published, Global gold-backed ETFs: A popular gateway to the gold market, report & said, “Recently, gold has become globally accepted as a strategic asset amidst a high-risk and low-rate environment spurring investment demand and the expansion of the gold-ETF market.” The increased quantity, size and location of gold ETFs have provided easier and more efficient access for investors allowing them to utilise many general advantages of ETFs.  While there are numerous ways for investors to own gold, such as bars, coins, derivatives, over-the-counter (OTC) instruments and gold stocks, many have embraced gold ETFs for qualities such as cost efficiency, transparency, and liquidity.   The growth and evolution of gold ETFs have already helped advance the broader gold market and are likely to continue to do so, providing additional support for the role of gold in portfolios.

Indian imports hit nine-month high!   India’s gold market in August: Indian imports hit nine-month high but retail demand remained weak, inks Mukesh Kumar, Market Intelligence Group-World Gold Council.   The domestic gold price decreased by 4.4% m-o-m but ended the month 31.1% higher y-t-d, Economic indicators sent mixed signals during August, suggesting that the Indian economy is unlikely to witness a quick recovery! Foreign Institutional Investors (FIIs) inflows into Indian equities touched an all-time high of US$6.4bn and USD/INR appreciated by 1.6% during the month. Retail gold demand weakened as consumers waited on the side lines following a sharp correction in the domestic gold price amid rising COVID-19 cases, 1: Demand for safe haven assets and strong year-to-date performance, coupled with the price correction likely seen by investors as a buying opportunity, supported gold ETF flows. Total holdings for Indian gold ETFs reached 25.7t at end of August; a net inflow of 1.8t