Gold exchange-traded funds in India are popular again as risks to the global economy escalate even as jewelry sales languish in the world’s second-biggest consumer of the precious metal.
Indians invested the most in gold ETFs in more than seven years in January, boosting assets managed by the 11 funds selling the securities to 62 billion rupees ($870 million), according to the Association of Mutual Funds in India. While that’s 31% higher than a year earlier, it’s still about halve the 120-billion-rupee record touched in January 2013, the industry group’s data showed.
