Global physically-backed gold exchange-traded funds (ETFs) lost $6.7 billion in the first half of calendar year 2024 (H1CY24), their worst performance since 2013, according to a recent note by the World Gold Council (WGC).
Total holdings dropped by 120 tonnes, or 3.9 per cent, to 3,105 tonnes in this period. "While Asian funds attracted a record $3 billion during the first half of 2024, they were significantly outpaced by collective outflows in North America and Europe to the tune of $9.8 billion," said WGC. Western gold ETF investors did not react as anticipated to a rise in gold price - it usually drives up investment flows - amidst a high level of interest rates and a "more risk-on sentiment” generated by the artificial intelligence boom, said the report.
Diese Geschichte stammt aus der July 11, 2024-Ausgabe von Business Standard.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der July 11, 2024-Ausgabe von Business Standard.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
India reports first suspected case of Mpox
India on Sunday reported the first suspected case of Mpox virus in a man who had recently travelled from a country witnessing an outbreak of the disease, the Union health ministry said.
Delhi's EV adoption to hit speed bump
The removal of road tax waiver in the city estimated to make such vehicles about 10% costlier for its residents
CRUDE CALCULATIONS
More cheap oil from Venezuela is coming to Indian shores. How big an opportunity is this?
25 years of the insurance industry: Hits and misses
De-tariffing and portability are two milestones ahead of the Insurance Act amendment that made health insurance independent line of business and raised FDI limits to 49%. The first of a two-part column
Usher in competition between EPF and NPS
Let's begin with my favourite episode from the 1980s British satire series Yes Minister, featuring senior bureaucrat Sir Humphrey and his boss, Cabinet minister Jim Hacker.
Blind bets on IPOs can be risky if market sentiment changes
If the company's quality is sound but valuation is high, wait for a correction
'India a dynamic market with long-term promise'
After the pandemic, investors have become more sophisticated and knowledgeable, leading to a notable increase in capital market participation and risk-taking, says SHIV GUPTA, founder and chief executive officer of Sanctum Wealth, in an email interview with Puneet Wadhwa. Edited excerpts:
BSE hoists the sails for Sensex's 'offshore' voyage
TIDAL SHIFT: IFSCA's July nod opens the route for derivatives on 30-share index, say sources
Wall Street on high alert: Economic hazards ahead
For those on Wall Street clinging to the bull case on the economy, life is getting harder.
A balancing job ahead
As Railway Board chairman, Kumar, the first Dalit to get the office, will have to deal with rising cases of accidents and concerns of people both within and outside the Railways