Gold ETFs log first monthly outflows in five months, shows data

Gold exchange-traded funds (ETFs) offered by domestic mutual funds logged their first monthly outflows in five months.

In July, these investment vehicles saw net outflows — the difference between the amount mobilised and the redemptions — of Rs 457 crore.

This was only the third month of net outflows in the past year.

The latest bout of outflows come amid a sharp surge in the equity markets.

In July, the benchmark Nifty rallied nearly 9 per cent. Typically, risk assets and safe havens, such as gold, move in opposite directions. When markets tend to correct, investors seek refuge in