Two Reasons Gold ETFs Hit the Speed | Today’s news
Second, in early May, after Prime Minister Narendra Modi urged people to buy less gold, major Indian mutual funds curtailed direct subscriptions and rollovers to their gold ETFs and funds of funds investing in gold ETFs. Lump sum investments were limited to ₹25 crores for large investors and ₹10 lakhs per investor per month for smaller buyers. The aim was to curb gold investment by high net worth and corporate investors without impacting retail investors and systematic investment plans (SIPs), but unfortunately the overall sentiment took a hit.
