Gold exchange-traded funds (ETFs) saw an outflow of Rs. 69 crore in November, taking the total to Rs. 588 crore in the first eight months of the current fiscal, mainly due to profit-booking.
The latest funds pullout follows investors bringing in a net Rs. 20 crore in October, its first inflow in nearly three and a half years, driven mostly by a rise in demand during the festive season.
The outflow meant asset under management (AUM) of gold funds plunged by more than 5 per cent last month.
According to the latest data available with Association of Mutual Funds in India (AMFI), a net sum of Rs. 69 crore was pulled out of 14 gold-linked ETFs in November.
