With domestic gold prices sliding following the sharp cut in Customs duties announced in the Budget, the net asset value (NAV) of gold exchange-traded funds (ETFs) took around a 5 per cent hit on Tuesday. However, data shows investors avoided any knee-jerk reaction.
The assets under management (AUM) of gold ETFs, which stood at 34,868 crore on Monday, declined 5.2 per cent to €33,155 crore on Tuesday. Adjusted for the mark-to-market losses (decline in NAV), the AUM is almost unchanged. On the National Stock Exchange, gold ETFs were trading at a premium to NAV on Tuesday, at least in the latter part of the session.
Denne historien er fra July 25, 2024-utgaven av Business Standard.
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Denne historien er fra July 25, 2024-utgaven av Business Standard.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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