Mirae Asset Gold ETF · NSE:GOLDETF
Mirae Asset Gold ETF — Mirae Asset Gold ETF and Mirae Asset Gold ETF Fund of Fund — Investor Presentation (July 2026)
27 slides from Mirae Asset Gold ETF's investor presentation, Jul 20, 2026
Slide 1: Mirae Asset Gold ETF and Gold ETF Fund of Fund
20 July 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 20th July 2026 Source: Mira
Slide 3: US interest rate play – Gold typically reacts positively at the time of 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 $) 0 Rate cut (%) 3000 -0.5 1.
Slide 4: US interest rate projection
US interest rate projection FOMC Participant’s Policy Path Chart “The Dot Plot” Dots: The dots represent each FED member’s interest rate projection for a given year. FED members are projecting rate hikes by 2026 . Data as on : 17 June, 2026. The numbers are as per latest available data. Sources: Fed
Slide 5: Geopolitical risk may boost gold prices
Geopolitical risk may boost gold prices GPR Index GPR Index 6000 600.00 9/11 5000 500.00 4000 400.00 Russia - Ukraine Middle-east Iraq Gold Price (%) Escalation Israel 3000 300.00 2000 200.00 1000 100.00 0 0.00 Jul-2006 Jul-2014 Jul-2000 Jul-2001 Jul-2002 Jul-2003 Jul-2004 Jul-2005 Jul-2007 Jul-2008
Slide 6: US Dollar Topping out? Gold performs when US Dollar weakens
US Dollar Topping out ? Gold performs when US Dollar weakens LBMA Gold DXY Index 5,600.00 120.00 5,400.00 Dollar Topping Out 5,200.00 5,000.00 115.00 4,800.00 Dollar Topping Out 4,600.00 4,400.00 110.00 4,200.00 LBMA GOLD (US$) 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 1,080 1,092 Portugal 382.7 1,051 Uzbekistan, Rep. of 423.0 1,000 Taiwan Province of China 423.9 850 ECB 508.4 Gold Purchases (I
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) 44 Saudi 49 37 Russia 39 115 United States 132 441 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
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 30 June, 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 2,00,000.00 1,80,000.00 Historical Correlationof Gold v/s Nifty 50 - 0.08 1,60,000.00 US Tariff 1,40,000.00 1,20,000.00 Tensions in Middle East 1,00,000.00 Russia Ukraine 80,000.00 War 60,000.00 S
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 6 4,008.02 4,000.00 4 3.5 US CPI (%) Gold ($) 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
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 12.9% 11.5% 6.7% 10 Years 16.5% 12.3% 6.0% 5 Years 24.1% 10.4% 5.3% 3 Years 33.8% 8.3% 7.0% 2 Years 39.1%
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 Higher US real yields, Central banks across Short-term consolidation Post significant Over the next 6 -12 Hawkish Fed and a emerging markets is likely due to lingering correction, current months, gold is stronger US dollar are expected to pressure from interest levels now looks expected to r
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.