Mirae Asset Gold ETF · NSE:GOLDETF
Mirae Asset Gold ETF — Investor Presentation (March 2026)
27 slides from Mirae Asset Gold ETF's investor presentation, March 2026
Slide 1: Mirae Asset Gold ETF and Fund of Fund
March 2026 Mirae Asset Gold ETF (NSE Symbol: GOLDETF , BSE Scrip Code: 543781) (An open ended scheme replicating/tracking Domestic Price of Gold) Mirae Asset Gold ETF Fund of Fund (An open-ended Fund of Fund scheme investing in Mirae Asset Gold ETF)
Slide 2: What are the driving factors of gold?
What are the driving factors of gold? Interest Rate Geopolitical US Dollar Central Banks Easing by FED Escalations Topping Out Buying Factors Driving Gold Price Domestic Growing Chinese Increasing Net long AUM growth of Demand Demand position Global Gold ETFs 1 Data as on 31st March 2026 Source: Mir
Slide 3: US interest rate play – Gold typically reacts positively at rate cuts
US interest rate play – Gold typically reacts positively at the time of rate cuts Gold Performs whenever there is a rate cuts and Vice versa 6000 1.5 1 5000 5.25% rate hike (0.25% to 5.5%) 0.5 5% rate cut (5.25% to 0.25%) 2% rate hike (0.5% to 2.5%) 4000 Gold Price (in $) 0 Rate cut (%) 3000 -0.5 20
Slide 4: US interest rate projection
US interest rate projection FOMC Participant’s Policy Path Chart “The Dot Plot” Dots: The dots represent each FED member’s interest rate projection for a given year. FED members are projecting more rate cuts in the coming times. Data as on : 18 March, 2026. The numbers are as per latest available da
Slide 5: Geopolitical risk may boost gold prices
Geopolitical risk may boost gold prices GPR Index GPR Index 6000 600.00 9/11 5000 500.00 Russia - Ukraine 4000 400.00 Iraq Middle-east Gold Price (%) Escalation Israel 3000 300.00 2000 200.00 1000 100.00 0 0.00 Mar-2007 Sep-2008 Mar-2000 Sep-2000 Mar-2001 Sep-2001 Mar-2002 Sep-2002 Mar-2003 Sep-2003
Slide 6: US Dollar Topping out? Gold performs when US Dollar weakens
US Dollar Topping out ? Gold performs when US Dollar weakens LBMA Gold DXY Index 5,600.00 120.00 5,400.00 Dollar Topping Out 5,200.00 5,000.00 115.00 Dollar Topping Out 4,800.00 4,600.00 4,400.00 110.00 4,200.00 LBMA GOLD (US$) 4,000.00 DOLLAR INDEX 3,800.00 105.00 3,600.00 3,400.00 3,200.00 100.00
Slide 7: Central Banks buying: A key driver for current momentum in gold price
Central Banks buying: A key driver for current momentum in gold price Total Central bank gold purchase (In Tonnes) Total Gold Reserves of Top 15 Countries (In Tonnes) 1,200 1,082 Portugal 382.7 1,0371,045 Uzbekistan 406.8 1,000 Taiwan Province of China 423.9 863 ECB 508.4 Poland 570.4 Gold Purchases
Slide 8: Chinese central bank action: A key driver for rise in gold prices
Chinese central bank action : A key driver for rise in gold prices PBOC Gold Reserves (In Tonnes) China Holdings of US Treasury Securities ($ Bn) 2400 5,000 1100 2300 4,500 1050 2200 1000 4,000 Gold Holdings (In Tonnes) 2100 950 3,500 Gold Price ($) 2000 900 3,000 1900 850 2,500 1800 800 2,000 1700
Slide 9: Diverse usage of gold may provide multiple avenues of price growth
Diverse usage of gold may provide multiple avenues of price growth Gold consumption (In Tonnes) 6,000 5,000 4,000 Tonnes 3,000 2,000 1,000 - 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Jewellery Fabrication Technology Investment Central Banks Almost 40% of the gol
Slide 10: India and China are top two markets for jewellery consumption
India and China are top two markets for jewellery consumption Top five countries’ annual gold jewellery demand (Tonnes) 29 UAE 35 33 Turkey 41 117 United States 132 431 India 563 386 China 511 0.0 100.0 200.0 300.0 400.0 500.0 600.0 2025 2024 High gold prices have kept jewellery consumption modest S
Slide 11: Global gold ETF flows (Region wise)
Global gold ETF flows (Region wise) Global Gold ETF Flows (Region wise in Tonnes) 200.00 150.00 100.00 50.00 0.00 -50.00 -100.00 -150.00 North America Europe Asia Other Data as of 31 March, 2026. The numbers are as per latest available data Sources: World Gold Council
Slide 12: Gold as an Asset class
Gold as an Asset class J MIRAE ASSET Mutual Fund
Slide 13: Evolution of gold
Evolution of gold 433B.C 18thCentury King Ferdinand of Spain 3600B.C went on acquisition Ancient Chinese begin spree for Gold Assets circulating the Ying Yuan: around the World A square Gold Coin Alexander the Great Discovery of Gold caused popula- sacks the Persian Empire tion of San Francisco to s
Slide 14: Demand Drivers of gold
Demand Drivers of gold Economic Expansion Periods of growth are very supportive of jewellery, Economic Expansion technology and long term savings Strategic RiskandUncertainty Market downturns often boost investment demand for Riskand Uncertainty gold as a safe haven asset Opportunity Cost Price of c
Slide 15: Gold has exhibited negative correlation with equity markets
Gold has exhibited negative correlation with equity markets Correlation between Nifty 50 index and Gold 1,60,000 Historical Correlationof Gold v/s Nifty 50 1,43,315.17 - 0.08 1,40,000 Tariff hike 1,20,000 Tensions in 1,00,000 Middle East 85,398.37 80,000 Russia Ukraine War 60,000 2018 Sovereign Pull
Slide 16: Gold may potentially act as a hedge against inflation
Gold may potentially act as a hedge against inflation Gold v/s US CPI 10 6,000.00 8 5,000.00 4,553.95 6 4,000.00 4 3.3 3,000.00 2 2,000.00 0 1,000.00 -2 -4 - US CPI Gold Gold retains its purchasing power when cost of goods rise! Source: Bloomberg , Gold prices are based on London Bullion Market Asso
Slide 17: Gold performance during financial distress
Gold performance during financial distress ! Calendar Years Gold (USD) Dollar Index S&P 500 Index Event 1978 35.6% -10.3% 1.1% 1979 Oil Energy Crisis 1979 133.4% -0.8% 12.3% 1986 19.5% -16.1% 14.6% Japanese asset price bubble & Black Monday of 1987 1987 24.5% -17.6% 2.0% 1993 17.4% 4.9% 7.1% Black W
Slide 18: Avenues of Investment in gold
Avenues of Investment in gold Parameters ETF/ Fund of Fund Jeweller Banks Sovereign Gold Bond Scheme Physical DEMAT/ MF Units Jewellery/ Bar/ Coins Bar/ Coins certificate or in Mode Demat Gold bond prices are linked to Purity of Gold 99.5% or higher Can't say High on Purity price of gold of 999 puri
Slide 19: Performance of Gold
Performance of Gold J MIRAE ASSET Mutual Fund
Slide 20: Performance of gold v/s other asset classes
Performance of gold v/s other asset classes Returns comparison amongst different Asset class (%) MCX Gold Nifty 50 Nifty 10 Yr. Period Commodity Index G-Sec Index (INR) (Equity) (Debt) 15 Years 13.9% 10.7% 6.4% 10 Years 17.5% 12.6% 6.1% 7 Years 24.4% 11.1% 6.1% 5 Years 27.1% 9.8% 5.0% 3 Years 34.9%
Slide 21: Calendar Year Performance: Gold v/s Equity v/s Debt
Calendar Year Performance: Gold v/s Equity v/s Debt MCX Gold Nifty 50 Index Nifty 10 Yr. G-Sec Index Calendar Year Commodity (INR) (Equity) (Debt) 2025 74.7% 11.9% 6.9% 2024 20.6% 10.1% 9.5% 2023 15.4% 21.3% 8.1% 2022 13.9% 5.7% 0.4% 2021 -4.2% 25.6% 1.3% 2020 28.0% 16.1% 8.7% 2019 23.8% 13.5% 9.4%
Slide 22: Volatility Comparison of Equity v/s Gold during downturns
Volatility Comparison of Equity v/s Gold during downturns Volatility (%) 50.0% 45% 45.0% 40.0% 35% 35.0% 32% 29% 30.0% 25.0% 22% 19% 20% 19% 18% 20.0% 18% 18% 17% 16% 16% 17% 15% 15% 14% 14% 14% 15.0% 13% 12% 13% 13% 13% 12% 12% 12% 12% 11% 11% 10% 9%9% 10% 10.0% 8% 5.0% 0.0% 2008 2009 2010 2011 201
Slide 23: Outlook
Outlook Trade war due to De-dollarization Higher demand by Weakness in US Geopolitical US tariffs may efforts are global central banks Dollar would likely Tensions could impact global supporting gold (esp. China) may to move gold prices continue to economies which demand as a continue to support hig
Slide 24: Why Mirae Asset Gold ETF Fund of Fund?
Why Mirae Asset Gold ETF Fund of Fund ? • Provides ease of transacting in gold through mutual fund route. • There is no uncertainty on purity of the Gold as it is regulated and LBMA certified (Purity of 99.5% or higher). • The risk of theft and lower quality is eliminated as units of Gold as MF Unit
Slide 25: Scheme Details
Scheme Details Particulars Mirae Asset Gold ETF (NSE Symbol: GOLDETF , BSE Scrip Code: 543781) Type of Scheme An open ended scheme replicating/tracking Domestic Price of Gold Benchmark Domestic Price of Physical Gold Allotment Date 20th February, 2023 Fund Manager Mr. Ritesh Patel & Mr. Akshay Udesh
Slide 26: Disclaimer & Riskometers
Disclaimer & Riskometers Disclaimer: Every person who desires to apply for or otherwise acquire any Units of the Mutual Fund may do so pursuant to independent inquiry, investigation and analysis and shall not have any claim against the Exchange whatsoever by reason of any loss which may be suffered
Slide 27: Thank You
THANK YOU Follow us on: Mutual Fund investments are subject to market risks, read all scheme related documents carefully.
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