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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.

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