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Gold ETF assets in India drop for third month as prices plunge

Posted on 11 July 2013

The value of assets in gold-backed funds in India, the world’s biggest consumer, fell for a third month in June as a bear market in bullion deepened. Holdings in exchange-traded funds, or ETFs, declined 9.2 percent to 96.1 billion rupees ($1.6 billion) as of June 30 from a month earlier, the Association of Mutual Funds in India said on its website, without giving data on volume.
The value of assets has lost 20 percent since reaching a record 120.6 billion rupees in January, association data showed. Gold fell 4.5 percent in rupee terms in June, falling for a 10th month………………………………………..Full Article: Source


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