Rupee And Bond Update : The Indian rupee ended flat against the U.S. currency on Thursday ahead of the Monetary Policy Committee decision.
Gold ETFs : Economic downturn due to coronavirus pandemic and weakness in the US dollar encouraged investors to infuse a whopping Rs 6,657 crore in gold exchange-traded funds in 2020.
Gold Fund Reports : Exchange-traded funds have been lauded for everything from democratizing investment to boosting market liquidity. In Africa, savvy investors have hit on a less-obvious benefit: Aiding their escape.
In global markets, gold prices moved higher today as lacklustre US employment data and surging covid cases boosted the safe-haven appeal of gold. Spot gold climbed 0.4% to $1,951.13 per ounce.
Investment demand for gold remained strong in India with gold-backed ETFs seeing inflows for the fifth month in a row. This comes despite weak retail demand amid the coronavirus pandemic.
The rally in gold, which surged to an all-time high two weeks ago, is showing signs of losing steam with hopes for a coronavirus treatment and signs of improving economies undercutting the metal’s appeal as a haven.