India contributed to this positive trend by purchasing USD 86.5 million worth of gold. According to the World Gold Council’s latest report, May saw a resurgence in inflows, primarily driven by strong demand in Europe and Asia, despite minor outflows in North America and other regions.
By the end of May, global gold ETF holdings rose to 3,088 tonnes, with total assets under management (AUM) reaching USD 234 billion, reflecting a 2 percent increase for the month.
Physically backed gold ETFs enjoyed a net inflow of USD 529 million in May, marking their first positive movement since the same month last year. This uptick, coupled with a 2 percent increase in gold prices to USD 2,348 per ounce, raised the total AUM for gold ETFs to the highest level since April 2022. Despite this rebound, holdings remain 8.2 percent below the 2023 average of 3,363 tonnes.
Esta historia es de la edición June 08, 2024 de The Business Guardian.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición June 08, 2024 de The Business Guardian.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
CLEANLINESS DRIVE: OVER 75K VOLUNTEERS PARTICIPATE
In a significant boost to the nationwide Jan Andolan for Swachhata fortnight, over 75,000 volunteers joined Reliance's campaign at 4,100 locations to make a strong statement #WeCare4Swachhata.
GAIL, AM Green to set up renewable energy projects
PUNE GAIL (India) Limited has partnered with AM Green B.V. (AMG) to set up solar and wind hybrid renewable energy projects of up to 2.5GW in India, the state owened PSU said in a statement.
iSprout expands its footprint in Hyderabad
iSprout, one of the leading organizations in the managed office space industry further expanded its presence in Hyderabad by leasing an additional 1 million sq.ft. of premium workspace in SAS iTower, iSprout Tower at Minaas and Trendset Jayabheri Connect.
ARIS MAKES ITS DEBUT, BEGINNING AN ERA OF TRANSFORMATION IN ACADEMIC LANDSCAPE
The Association for Reinventing School Education (ARISE) makes its official debut in its new avatar, marking the outset of a new epoch and setting unprecedented benchmarks to facilitate transformation in the modern educational landscape.
Tech Mahindra sets up SMART Academy
Tech Mahindra Foundation, in collaboration with the Centre for Innovation and Entrepreneurship (CIE), Jamia Millia Islamia (JMI) and AT&T Global Network Services India Pvt.
Adani Group, Google join forces to advance clean energy goals
The Adani Group and Google announced a collaboration today aimed at advancing sustainability goals and boosting clean energy in India.
SC dismisses review petitions on taxation of mines
The Supreme Court has dismissed petitions seeking a review of its landmark 9-judge bench judgment, which affirmed that states possess the authority to levy taxes on mineral-bearing lands and clarified that royalties on extracted minerals do not constitute a tax.
COURT PLACES ASHISH PANDEY IN CBI CUSTODY
A court in Kolkata has recently placed Sandip Ghosh, the former principal of RG Kar Medical College and Hospital, and suspended police officer Abhijit Mondal in 14-days of judicial custody.
CJI reminds lawyer he's 'still in charge'
Chief Justice of India (CJI) DY Chandrachud, who is set to retire in November, reminded a lawyer on Thursday that he is \"still in charge\" despite his short remaining tenure.
KARNATAKA HC STAYS VERDICT CLASSIFYING OLA DRIVERS AS EMPLOYEES
The Karnataka High Court has temporarily stayed a ruling that classified the relationship between ANI Technologies Private Limited (Ola) and its drivers as that of employer-employee.
