 Mumbai : India's gold collections under exchange-traded funds rose 86 percent on year to 9.622 tonnes in February on increased retail investor participation, data from the funds showed.
Gold futures were trading 0.10 per cent higher at Rs 16,542 per 10 grams at 11:55 a.m., after losing 1.6 per cent since the start of March. The contract gained over 3 percent in February. Though gold collections under ETFs are growing, they remain miniscule against India's imports of about 400-700 tonnes annually.
Gold ETFs -- instruments that can be traded like shares and are backed by physical gold holdings -- are more than three years old and the segment may get crowded with some other funds planning to enter.
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