India gold ETF demand doubles in 2011

22/02/2012 09:00 AST

India's love for gold has now shifted to paper rather than physical as Gold ETF demand surged by 100% last year, driven mainly by corporate and SME buying.

"The gold collections of ETFs have risen from 15 tonnes in 2010 to 30 tonnes in 2011 (an increase of 100%). The number of corporate portfolios under ETFs has also increased to 5,599 in 2011 as against 3,310 in 2010. For the first time, small and medium enterprises (SMEs) have invested in large numbers", The Economic Times quotes Amit Mitra of the World Gold Council (WGC).

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