“The government’s import restrictions are hurting the populace. The only organisation not worried, as of now, are gold backed exchange traded funds.  Worried investors are veering towards the country’s 14 gold exchange traded funds (ETFs), which together have garnered 40,000 kilo of the precious metal.  Gold ETFs debuted in India about six years ago.  The first gold ETF launched in 2007 by Benchmark Mutual Fund (now Goldman Sachs) was followed by 13 others in quick succession. The 14 mutual fund houses present in this segment are managing gold assets worth nearly $2.2 billion (Rs 120 billion).”

http://www.mineweb.com/mineweb/content/en/mineweb-gold-news?oid=176882&sn=Detail

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