Gold ETF’s investments decreases Rs8Crore in Febraury 2013
In this Febraury month Gold ETF funds investments decreased upto Rs8 crore. After June 2012 now only the fund value investment decreased among the investors. For these funds total administrated fund value decreased 4% and now the current total value is Rs11600 crore.
Investments in Gold ETF can be received in the form of units and it can be sold at any time. Current financial year 2013 till time 4% of the investments has been decreased and also Government bonds like long term Mutual funds investments increased upto Rs446 crore when compared to last year. As we find growth American Economy we can expect that still the Gold price may even fall some. In World level usage and imports of Gold, India stands on top first position. Indians have Rs59.40lakh crore (1.1lakh crore dollar) value comparing to others which is the data given by ICICI bank after taking an survey. In total India’s population 70% of people are living in village, in this all are investing in only Gold to safeguard their money and yellow metal.
In India’s population the age below 25 are nearly 50% of the population. Till the year 2020 thousands and lakhs of marriage going to be held and wanted of gold will be more and imports of gold may increase upto 500tonnes in next 7years. In India previous year 2012 864.20 tonne gold has been sold which the data given by World Gold Council. In this 90% of the gold are imported and due to this current account deficit will be more and economically crisis seen to be happen very soon due to this gold and Government taking several measures to control this.