Mirae Asset Gold ETF · NSE:GOLDETF
Mirae Asset Gold ETF — Mirae Asset Mutual Fund — Investor Presentation (June 2025)
29 slides from Mirae Asset Gold ETF's investor presentation, June 2025
Slide 1: Mirae Asset Gold ETF and Gold ETF Fund of Fund
June 2025 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 is driving gold prices now?
What is driving gold prices now ? 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 30th June 2025 Source: Mirae In
Slide 3: US interest rate play – Gold reacts positively to 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 3500 1.5 3000 1 5.25% rate hike (0.25% to 5.5%) 2500 0.5 5% rate cut (5.25% to 0.25%) 2% rate hike (0.5% to 2.5%) 2000 0 1500 -0.5 1% rate Cut (5.5% to 4.5%) 1
Slide 4: US interest rate projection
US interest rate projection FOMC Participant’s Policy Path Chart “The Dot Plot” Interest Rate 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 : June, 2025. The numbers are as per latest av
Slide 5: Geopolitical risk may boost gold prices
Geopolitical risk may boost gold prices GPR Index GRP Index 600.00 9/11 500.00 Russia - Ukraine Israel 400.00 Iraq 300.00 Middle-east Escalation 200.00 100.00 0.00 Geopolitical Risk Index has started rising again due to ongoing tensions in Middle East which may continue to uplift the gold price, whi
Slide 6: US Dollar topping out? Gold performs when dollar weakens
US Dollar Topping out ? Gold performs when US Dollar weakens LBMA Gold DXY Index 120.00 3,400.00 Dollar Topping Out 115.00 2,900.00 110.00 LBMA GOLD (US$) DOLLAR INDEX 105.00 2,400.00 100.00 95.00 1,900.00 90.00 1,400.00 85.00 Gold typically rallies post topping out of Dollar index, which shows inve
Slide 7: Central banks buying: key driver for gold price
Central Banks buying: A key driver for current momentum in gold price Total Central bank gold purchase (In Tonnes) Total Gold Reserves of Top 15 Countries (In Tonnes) 1,200 1,082 Taiwan 424 1,037 1,045 ECB 507 1,000 Poland 515 Netherlands 612 Gold Purchases (In Tonnes) 800 Turkey 632 656 Japan 846 6
Slide 8: Top countries who added gold to their reserves since 2020
Top 5 Countries who added gold to their reserves since 2020 Change in Gold Reserves in last 5 years 400 23 17 36 YTD 300 44 Country 2020 2021 2022 2023 2024 Total 2025 67 15 3 129 200 77 73 China 0 0 62 225 44 17 348 225 90 16 In Tonnes 33 Poland 0 2 -2 130 89.5 67 287 100 148 77 163 130 -2 Turkey 1
Slide 9: Chinese central bank action: key driver for rise in gold prices
Chinese central bank action : A key driver for rise in gold prices PBOC Gold Reserves (In Tonnes) China Holdings of US Treasury Securities ($ Bn) 2400 3,500 1100 2300 1050 3,000 2200 1000 Gold Holdings (In Tonnes) 2100 2,500 950 Gold Price ($) 2000 1900 900 2,000 1800 850 1700 1,500 800 1600 757.2 7
Slide 10: Diverse usage of gold may provide multiple avenues of price growth
Diverse usage of gold may provide multiple avenues of price growth Annual Gold consumption (In Tonnes) 5,000 4,500 4,000 3,500 3,000 Tonnes 2,500 2,000 1,500 1,000 500 - 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Jewellery Fabrication Technology Investment Central Ban
Slide 11: Union budget 2024-25: Push for gold
Union budget 2024-25: Push for gold Custom Duty 16% 15% 14% Custom Duty Cut 12.88% Custom duty cut from 15% to 6%. 12% 10.75% 10% 10% 8% 8% 6% 6% Taxation and Holding period 6% 4% 24 Months: Holding Period for long term capital gain tax 4% 12.5% without indexation - LTCG 2% 2% 0% 16 Jan 16 Mar 21 Ja
Slide 12: India and China are top two markets for jewellery consumption
India and China are top two markets for jewellery consumption Top five countries’ annual gold jewellery demand (Tonnes) 35 UAE 40 41 Turkey 42 132 United States 136 563 India 562 511 China 630 0.0 100.0 200.0 300.0 400.0 500.0 600.0 700.0 2024 2023 Recovery in China may further uplift Gold prices in
Slide 13: Net long position in Gold Futures Market (COMEX)
Net long position in Gold Futures Market (COMEX) 1201 4000 1001 3500 801 LBMA Gold ($ per oz) 3000 Tonnes 601 2500 401 2000 201 1 1500 Money Managers Net Long Other Net Long COMEX Gold (US$/Oz) Money Managers are again increasing their net long position in the month of June 2025 indicating Bullish S
Slide 14: Global Gold ETFs across all regions
Global Gold ETFs across all regions Global Gold ETF Flows (Region wise in Tonnes) 140.00 120.00 100.00 80.00 60.00 40.00 Tonnes 20.00 0.00 -20.00 -40.00 -60.00 -80.00 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24 Jul-24 Aug-24 Sep-24 Oct-24 Nov-24 Dec-24 Jan-25 Feb-25 Mar-25 Apr-25 May-25 North A
Slide 15: Gold as an Asset class
Gold as an Asset class J MIRAE ASSET Mutual Fund
Slide 16: 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 17: 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 18: Gold has exhibited negative correlation with equity markets
Gold has exhibited negative correlation with equity markets 80000 Correlation between Nifty 50 Index and Gold 45000 Tensions in Middle East Historical Correlationof Gold v/s Nifty 50 70000 40000 - 0.09 Russia Ukraine War 35000 60000 30000 50000 25000 40000 2018 20000 Brexit Pullback Sovereign 30000
Slide 19: Gold may potentially act as a hedge against inflation
Gold may potentially act as a hedge against inflation Gold v/s US CPI 10 3,500.00 3,293.00 8 3,000.00 6 2,500.00 4 2,000.00 2.4 2 1,500.00 0 1,000.00 -2 500.00 -4 - US CPI Gold Gold retains its purchasing power when cost of goods rise! Source: Bloomberg , Gold prices are based on London Bullion Mark
Slide 20: 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 21: 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 22: Performance of Gold
Performance of Gold J MIRAE ASSET Mutual Fund
Slide 23: 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 11.5% 12.4% 6.7% 10 Years 13.8% 13.2% 6.9% 7 Years 17.8% 14.6% 7.1% 5 Years 14.6% 21.3% 5.5% 3 Years 23.6%
Slide 24: 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) 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% 2018 7.9% 4.6% 6.1% 20
Slide 25: Volatility Comparison of Equity v/s Gold
Volatility Comparison of Equity v/s Gold (Calendar year) Gold has typically better risk-adjusted returns in a portfolio during recessionary phases, economic downturns and flattish equity markets Source: NSE and Bloomberg, Data as on 30th June 2025. per latest available data. The performance mentione
Slide 26: Outlook
Outlook Trade war due to Inflows in global Higher demand by Weakness in US Geopolitical US tariffs may Gold ETFs, China global central banks Dollar would likely Tensions may impact global adding gold to (esp. China) may to move gold prices continue to economies which their reserves, continue to supp
Slide 27: 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% and above). • The risk of theft and lower quality is eliminated as units of Gold as MF Unit
Slide 28: 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 29: 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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