Mutual funds hope that the sharp rally in gold prices would revive investors’ interest in exchange- traded funds. Gold ETFs have provided a return of almost 8 per cent in the last three months and some of them have registered their peak during the past few days. The recent spike in global gold prices and rupee’s depreciation have pushed up gold prices and thus Gold ETFs.
Reliance ETF Gold BeES, the largest in the category with an asset under management of Rs. 2,290 crore, was up 1.76 per cent to Rs. 3,015 on Wednesday, while HDFC Gold ETF and Quantum Gold ETF increased 2.22 per cent and 1.58 per cent to Rs. 3,116 and Rs. 1,498, respectively. Invesco India Gold ETF rose five per cent to Rs. 3,200 and Kotak Gold ETF jumped 1.68 per cent to Rs. 297.
