Global gold ETF holdings hit 2324 tons

Gold ETF’s witnessed healthy trends so far this year as investors sought a haven amid Europe’s debt crisis and falling currencies.

Gold ETF holdings rose 0.4 per cent to 2,324 tonnes, as of November 16. In India, gold ETF’s continued to perform positively as investors go for it even as physical gold buying dips sharply in the country during the third quarter.

According to data from the Association of Mutual Funds in India, total assets of gold ETFs jumped to Rs 90.90 billion ($1.8 billion) as on October 31, 2011, from some Rs 30.97 billion ($0.59 billion) a year ago.

India’s gold jewellery sales were down to 125.3 tonnes from 168.4 tonne in the same period last year, according to WGC. Major Gold ETF facilitators are all recorded growth during October.

Birla Sun Gold ETF traded 1.26% up at Rs 2700 ($51.43), ICICI Prudential Gold traded higher by 0.56% up at Rs 2650 ($50.48).

Other ETFs like Quantum Gold ETF traded higher 0.51% up at Rs 1290.85 ($24.59), while Kotak Gold ETF rose 0.37% to Rs 2590 ($49.33). Even SBIGets rose 0.27% to Rs 2640 ($50.29), while Axis Gold rose 0.22% to Rs 2644 ($50.36). Others like Gold Share ETF rose 0.13%, Gold Benchmark Exchange Traded Scheme (GoldBees) rose 0.13% while Religare Gold ETF rose 0.08%. - bullionstreet.com

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Posted by admin on Nov 25 2011. Filed under Gold ETFs. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry