 "gold price, gold share")
Investments in gold exchange-traded funds (ETFs) surged to Rs 1,337 crore in July, marking an 84 per cent increase month-on-month and the highest level since February 2020.
Venkat Nageswar Chalasani, chief executive officer of the Association of Mutual Funds in India, attributed the rise to the slump in gold prices following the Customs duty announcement in the Union Budget.
In the Budget announced on June 23, the government lowered the Customs duty from 15 per cent to 6 per cent. This announcement led to a drop in both physical gold and gold ETF prices, though the magnitude
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