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Gold exchange-traded funds (ETFs), once a popular investment vehicle among retail investors, seem to be losing appeal, going by the large-scale closure of folios and the continuous net outflows. In the past year, about a fifth of the accounts set up for investments in this product have seen closures.
In the past, a slew of investors had made investments in gold ETFs, anticipating gold prices would soar to new highs. In May 2013, the number of gold ETF-specific folios had exceeded 600,000, while assets under management had breached the Rs 10,000-crore mark.
According to the latest statistics from the Association of Mutual Funds of India, gold ETFs have lost 18 per cent of their investor base since May. In recent months, these products have seen continuous net outflows, owing to redemptions and lack of new sales.
Many believe gold ETFs have gone out of favour due to the poor outlook on the precious metal. Also, parity in domestic and international prices following restrictions imposed by the government to curb gold imports made many wary of investing in ETFs. Fund houses, too, had stopped pushing the product, sources said.
The Australian Bureau of Meteorology (BOM) has confirmed that 2014 would be an El Nino year, hence also establishing the line of forecast that India could witness a below normal rainfall this monsoon.
"The likelihood of El Nino remains high, with all climate models surveyed by the Bureau now indicating El Nino is likely to occur in 2014. Six of the seven models suggest El Nino thresholds may be exceeded as early as July," said the ENSO (El Nino Southern Oscillation) wrap up report by BOM issued on Tuesday.
El Nino is an oceanic phenomenon, which emerges after a gap of every 3 to 7 years. Warm water temperature develops around the Pacific coast of South America leading to fluctuating weather across Pacific Ocean. Sea surface temperatures increase above normal by 0.5 degree.
Friends 4 Month of Year 2014 Coming to End Soon!!!In Last 4 Months KirtiscripscaN Technicals Gave Tremendus Breakout Stocks !!!!
On Heavy Demands By Our Viewer's We Again Mention Our Big 50 Idea's of Last 4 Months Of Year 2014!!!
On 5th March. 2014 Our Call Voltas@ Rs.141/- Already Hittt Rs.176/- After Our Call.
On 7th March. 2014 Our Call Crompton @ Rs.139/- Already Hittt Rs.193/- After Our Call.
On 15th March. 2014 Our Call JK Tyre @ Rs.160/- Already Hittt Rs.227/- After Our Call.
On 18th March 2014 Our Call Liberty @ Rs.153/- Already Hittt Rs.194/-After Our Call.
On 18th March 2014 Our Call JK Cement @ Rs.218/- Already Hittt Rs.258/-After Our Call.
On 19th March 2014 Our Call Greaves Cotton @ Rs.73/- Already Hittt Rs.91/-After Our Call.
On 20th March. 2014 Our Call Acrysil@ Rs.180/- Already Hittt Rs.270/-After Our Call.
On 25th March 2014 Our Call ITDC @ Rs.101/- Already Hittt Rs.152/-After Our Call.
On 26th March. 2014 Our Call MM Forging @ Rs.108/- Already Hittt Rs.147/-After Our Call.
On 27th March 2014 Our Call PNB@ Rs.680/- Already Hittt Rs.810/-After Our Call.
On 27th March 2014 Our Call Talwalkars @ Rs.160/- Already Hittt Rs.182/-After Our Call.
On 27th March 2014 Our Call JK Lakshmi @ Rs.108/- Already Hittt Rs.131/-After Our Call.
On 28th March 2014 Our Call Navin @ Rs.340/- Already Hittt Rs.388/-After Our Call.
On 28th March 2014 Our Call Sundram Fast @ Rs.61/- Already Hittt Rs.76/-After Our Call.
to be continue...
1.All Above Technical Call Idea's Given after 31st Dec.2013.
2.Above Idea's Mixed to Subscriber's & Viewer's.
This is time to Lay the foundation for a Wealthy Future....
Our Next Stock in this Series
Kirti Scripscan Research...
What To Do Today..........
Our Opininon for Today's Market.......
1.April Expiry Today...
2.Stock Specific Heavy Shortcovering Expected!!!