New Delhi, 09 September (Udaipur Kiran) – The month of August saw a surge in investments in Gold Exchange Traded Funds (ETFs) once again. An additional investment of 29 tons was made in Gold ETFs during this period, pushing the total holdings of Gold ETFs to 3,182 tons. This marks the fourth consecutive month in which investors have increased their investments in Gold ETFs.
According to a report by the World Gold Council, investments in Gold ETFs have risen significantly in North America and Europe. The increased investment has also driven up gold prices in the international market. Gold has been trading above the $2,500 per ounce mark for the third straight week. The rise in international gold prices has pushed the price of gold in India’s bullion markets close to ₹73,000 per 10 grams.
Similar to gold, silver prices have also been on an upward trend. Last week, silver crossed the $29 mark, and this surge in silver prices has also supported gold prices on the Multi Commodity Exchange (MCX), where silver saw a 4% rise last week.
Bullion market expert Mayank Mohan attributes the continued rise in Gold ETF investments to the decline in the Dollar Index. The weakening dollar has provided support to gold. Additionally, the ongoing tensions in the Middle East and the Ukraine-Russia war have driven up demand for gold in the international market. Similarly, the increased demand for silver in the solar and electronics industries has contributed to the global interest in Gold ETFs.
Mayank Mohan also noted that the U.S. Federal Reserve is expected to make a decision on interest rates next week. This decision could impact the direction of the international gold market, which in turn may affect investments in Gold ETFs.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.
