India Gold ETF Sales Mimic Soros as Goldman More Bearish
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Indian gold funds are shrinking for the first time since June as investors in the biggest bullion-consuming nation follow billionaire George Soros in pulling money from products backed by the precious metal.
Exchange-traded funds in gold saw outflows of 80 million rupees ($1.5 million), data from the Association of Mutual Funds in India show. Investments in sovereign-debt funds rose by 4.46 billion rupees, the sixth straight month of inflows. Gold prices in India have slid 4 percent this year, while rupee bonds returned 2.7 percent, the second-highest gains in Asia.