Gold and Silver ETF Assets Surge to Near Record Highs Following Import Duty Increase
Gold, silver ETF assets near all-time highs after import duty hike
Business Standard
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As of May 13, 2023, the combined assets under management (AUM) of gold and silver exchange-traded funds (ETFs) reached ₹2.9 trillion (approximately $35 billion), marking a 12% increase this month. This surge follows a significant hike in import duties, which contributed to a nearly 6% rise in AUM.
- 01Gold and silver ETF assets reached ₹2.9 trillion.
- 02The AUM increased by 12% in May 2023.
- 03Import duty hikes significantly influenced this growth.
- 04The current AUM is close to record levels last seen in January 2026.
- 05A nearly 6% jump in AUM was noted on Wednesday.
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As of May 13, 2023, the combined assets under management (AUM) of gold and silver exchange-traded funds (ETFs) surged to ₹2.9 trillion (approximately $35 billion), reflecting a 12% increase this month. This growth is largely attributed to the recent hike in import duties on these precious metals, which has driven investor interest and demand. The current AUM levels are nearing the record highs observed in January 2026. Notably, there was a nearly 6% increase in AUM reported on Wednesday alone, indicating a robust recovery and strong market sentiment towards gold and silver ETFs.
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The increase in ETF assets indicates a growing interest in gold and silver investments, which could lead to higher prices for these metals, affecting consumers and investors alike.
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