Gold prices on Thursday rose by Rs 188 to Rs 46,460 per 10 grams in the national capital. According to HDFC Securities, its price in the previous session was Rs 46,272 per 10 grams. Talking about silver, during this period silver increased by Rs 173 and it became Rs 67,658 per kg. It had closed at Rs 67,485 per kg in the previous trading session. In the international market, gold was trading at USD 1,791 an ounce while silver was trading at USD 26.35 an ounce.
Investment in Gold ETFs decreased in May
Net investment in Gold Exchange Traded Fund in May 2020 declined by 57 percent to Rs 288 crore as compared to the previous month. It was Rs 688 crore in April. Investment in gold ETFs has come down due to investors turning to the stock markets. According to data from the Association of Mutual Funds in India (Amfi), the assets under management (AUM) of gold ETFs rose by six percent to Rs 16,625 crore at the end of May, from Rs 15,629 crore at the end of April, despite declining investments in gold ETFs. crore was Rs. Earlier in March, investors had put Rs 662 crore in gold ETFs. His investment stood at Rs 491 crore in February and Rs 625 crore in January.
In the last financial year 2020-21, gold imports increased by 22.58 percent to reach $34.6 billion or Rs 2.54 lakh crore. The import of gold affects the current account deficit (CAD). According to commerce ministry data, gold imports have increased due to an increase in domestic demand. Silver imports declined by 71 percent to $791 million during the fiscal. In the previous financial year 2019-20, gold imports stood at $ 28.23 billion. Despite the increase in gold imports, the country's trade deficit narrowed to $ 98.56 billion in the last financial year.