OctaFX | OctaFX Forex Broker
Open trading account

Indians ditch Gold

FXStreet (Mumbai) - The latest data from India shows gold exchange traded funds (ETFs) continue to see outflows on account of the robust performance of the equity markets and the disappointing performance of the yellow metal since June 2013.

Moreover, Indian gold ETF's have suffered 13 straight months of outflows. As per Crisil Research note, “Between June 2013 to August 2014, consolidated outflows were USD 521 million (Rs 31.94 billion), which is over 40% of the category's current assets under management.” The last time inflows were seen was in May 2013.

In May 2014, the net outflow of gold ETFs more than doubled to $55 million (Rs 3.4 billion), as compared to $23 million (Rs 1.4 billion) in April 2014. This is the same month during which, the business friendly BJP government came to power sending the equity markets to a record high.

WTI Crude stays weak, IEA reduces consumption forecasts

The WTI Crude prices remain under pressure after the International Energy Agency (IEA) said that the growth in oil demand this year would be slowest since 2009.
Read more Previous

EUR/GBP reaches 1-week high

EUR/GBP continued to build on yesterday’s gains and printed a fresh 1-month high as the pound continues to lag despite disappointing Eurozone economic data.
Read more Next
Start livechat