Gold ETFs: Indian MF industry’s new pet product

Moneycontrol.com reports that the value of gold exchange traded funds has seen a four-fold increase.

The market news is quoted as saying:

The Indian mutual fund industry has a new pet product — gold exchange traded funds. And why not? A report by research firm Morningstar says that in 2009, gold ETFs gave average returns of 21.46%. And despite falling to 14.96% for the January-October 2010 period, the product continues to see strong demand.

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