In terms of amount raised, the previous high was in November 2016 when Rs 1,082 crore was raised by selling 3.6 tonne worth gold bond; then the issue price Rs 3,007 per gram.
In April this year, the government sold gold bonds
worth Rs 822 crore. The month also witnessed the festival of Akshaya Tritiya, which is considered auspicious for buying gold.
Apart from gold bonds, gold ETFs were a big attraction and witnessed a net inflow of Rs 732 crore in April. This was the second-biggest inflow in several months, only after Rs 1,483 crore net inflow in February, according to data from the Association of Mutual Funds in India (Amfi). In the 12 months to April, the net inflow in gold ETFs has been Rs 2,344 crore.
In April, gold ETFs’ assets under management also increased to a six-year high (the most since February 2014) of Rs 9,198 crore. The number has almost doubled in the last 12 months.
In April, most jewellery stores remained closed because of but now have started to gradually open.