Akshaya Tritiya: Gold ETF Sales Up 14%

Gold exchange-traded funds (ETFs) witnessed a 14% increase in trade volumes on Akshaya Tritiya.

In its physical form, gold witnessed only a marginal rise in demand compared with last year 92012) as most buyers had already done with their purchases in April, 2013 after the price crash.

The National Stock Exchange (NSE) recorded a traded value of Rs. 691 crore in gold ETFs, compared with Rs. 608 crore last year.

The number of units of gold ETF traded on Monday were 2,698,610, an increase of over 14 % against 2,360,000 units traded last year (2012) Akshaya Tritiya.

Volumes in gold ETFs have shown consistent growth over the last 4 years. Since the price crash in April, 2013 trading activity was much higher &  the turnover of gold ETFs touched Rs. 926 crore in April, 2013 against Rs, 284 crore in March, 2013.

As far as physical gold is concerned, the demand was mild, but went in favour of jewellery than coins &  bars.

“The demand was mild as many buyers had already bought gold in April, 2013 after the prices crashed. Almost 70 to 80% of their purchases would have been made in April, 2013 and only the remaining 20 to 30% would have been left for Akshaya Tritiya.

Mr. P. R. Somasundaram, MD, World Gold Council, India said,'' sales value would be lower than last year as the prices were down this Akshaya Tritiya over last year".

Gold ETF Return On Akshaya Trithiya..!

Date	Price Rs.	Year on Year  Return %
2008 May 8	1889	23
2009 April 27	1499	26
2010 May 16	1800	20
2011 May 6	2135	19
2012 April 24	2765	30

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