About 20 mutual fund houses have reportedly halted fresh lump-sum investments, new SIPs and top-ups into gold fund of funds (FoFs) following regulatory directives issued on 15 and 16 October. The aim is to curb gold import demand and ease rupee pressure during the festive season, while direct gold ETF investments and existing active SIPs are unaffected. Navneet Damani of Motilal Oswal said high crude prices strain the rupee and balance of payments, so gold and silver imports could be curtailed, though import duties raised from 6% to 15% have not halted inflows. Gold FoF industry size stood at ₹47,359 crore in August, down from ₹53,638 crore in March, and experts advised investing based on needs rather than FOMO. Secondary-market sovereign gold bonds (SGBs) no longer qualify for tax-free maturity gains and now face 12.5% long-term capital gains tax.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Why have fresh investments into gold FoFs been halted , and what should you do ?
Read the original on livemint.com ↗
Keywords
goldXAUUSDIndiaexchange ratesinvestment trusts
Open a keyword to see other news on the same topic.
Related tickers and likely impact
XAU/USD
• NeutralRelevance: low
| Market | Gold |
|---|---|
| Close on 10/19/2026 | 4,140.75 |
| Change that session | -0.60% |
PAXG/USDT
• NeutralPAX Gold
Relevance: low
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Real-world assets |
| Market cap | $1.8B |
| Close on 10/19/2026 | 4,133.66 |
| Change that session | -1.08% |
XAUT/USDT
• NeutralTether Gold
Relevance: low
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Real-world assets |
| Market cap | $3.4B |
| Close on 10/19/2026 | 4,134.00 |
| Change that session | -1.05% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Domestic gold prices drop 1.1 million VND per tael this morning
Domestic gold prices fell sharply this morning by 800,000 to 1.1 million VND per tael, while the State Bank's central exchange rate rose slightly to 25,639 VND per USD. SJC gold at Sài Gòn and Doji was quoted at 139 million VND per tael to buy and 142 million to sell. World gold, at about USD 4,137 per ounce and down USD 47, equals roughly 131 million VND per tael, leaving SJC gold about 11 million VND higher.
- Gold price outlook : Yellow metal prices cool 26 % from record high : What are Indians buying this Dussehra , Diwali ?
Gold has corrected more than 26% from its record high in January 2026, with spot gold at $4,145.22 an ounce, and Indian households are shifting toward lighter jewellery, coins, bars and ETFs during the festive season. Traders were pricing an 82% chance the Federal Reserve holds rates at its October 27–28 meeting, but an 89% chance of a hike in December. Net inflows into gold ETFs reached 2,596.70 crore rupees in August, while India's gold imports fell 45% from July to $2.3 billion. According to Rajeev Sharan of Brickwork Ratings, 24-karat gold traded near 1.48 lakh rupees per 10 grams, and high US rates are expected to limit any sharp near-term rally to around 5% either way.
- Gold climbs ₹400 to ₹1 . 5 lakh per 10 gm as festive buying elevates demand
Gold in Delhi rose ₹400 to ₹1,50,300 per 10 grams on Monday from ₹1,49,900 on Friday, as improving festive demand and firmer global trends supported prices ahead of Dussehra. Silver held steady at ₹2.15 lakh per kg. HDFC Securities' Saumil Gandhi said physical demand has improved, with gold trading at a premium last week for the first time in over three months, and retail buying is expected to strengthen before Diwali. Globally, spot gold traded at $4,175.57 per ounce and silver rose over 1% to $57.63, as easing crude oil prices and lower US Treasury yields eased inflation concerns.
- Akshaya Tritiya 2026 : Gold May See Near - Term Volatility , But Buy on Dip Outlook Holds - Motilal Oswal Financial Services
According to a Motilal Oswal Financial Services report, gold prices have risen nearly 10% so far in 2026, though prices swung sharply through the first quarter. Geopolitical tensions, slowing growth and uncertainty over US interest rates support gold's safe-haven appeal, while a stronger dollar and elevated bond yields have caused intermittent pressure. In India, high prices have subdued price-sensitive jewellery demand and pushed domestic prices to a discount, while China has seen stronger investment-led buying and Indian investors are gradually shifting toward ETFs. Citing World Gold Council data, central banks bought around 860-870 tonnes in 2025, a slower pace than in previous years, and global ETF demand has recovered. The report expects gold to trade within a broad range in the near term, with a constructive medium- to long-term outlook and a 'buy on dips' stance for investors with medium- to long-term horizons.
- Gold, silver prices on October 20: Check latest rates in Delhi, Mumbai, Kolkata, other cities
Leading Indian jewellers kept gold prices mostly unchanged on October 20, 2026. Joyalukkas and Malabar Gold & Diamonds quoted 22K gold at ₹13,570 per gram across most states, while Tanishq listed ₹13,575; for 24K, Malabar quoted ₹14,804 per gram and Tanishq ₹14,809, with small differences due to store pricing, inventory costs and regional logistics. Prices follow international spot bullion, the USD/INR exchange rate and festival-season demand, with higher interest rates and Middle East tensions as headwinds for non-yielding gold. Retail purchases attract 3% GST on the metal and 5% GST on making charges, and 22K is preferred for ornaments because of its greater durability.
- Gold, silver prices on October 18: Check latest rates in Delhi, Mumbai, Kolkata, other cities
Higher interest rates continue to weigh on gold, which pays no yield, while markets watch global economic risks and rising geopolitical tensions in the Middle East. Gold prices in India follow international spot bullion, USD/INR currency moves and retail demand ahead of the festival season. Leading jewellers kept prices mostly unchanged on October 18, 2026: Joyalukkas and Malabar Gold & Diamonds quoted 22K gold at ₹13,535 per gram in most states, while Tanishq listed ₹13,575. For 24K gold, Malabar quoted ₹14,765 per gram and Tanishq ₹14,809 (estimated). Small price gaps between brands reflect store-level pricing, inventory costs and regional logistics.
Related markets
Latest news
- At 9:27, Russian Defence Ministry issues urgent announcement: Putin's order has begun, one country rattled by weapons that cannot be intercepted
According to a special announcement by Russia's Defence Ministry at 9:27 a.m. local time on October 19, Russian forces carried out an overnight retaliatory strike on Kyiv and nearby areas, targeting the “Data Group” data center and facilities Moscow says produce drone, missile or military-material components. Citing Russian sources reported by TST, air defence units intercepted 1,015 UAVs across several attack waves, while Kyiv was reportedly hit by about 10 ballistic missiles, causing widespread power outages. Putin was briefed on the battlefield and reportedly affirmed the need to continue large-scale strikes on Ukraine's energy infrastructure. U.S. President Donald Trump criticised Zelensky for not wanting peace, arguing that Ukrainian attacks on Russian refineries also affect global energy markets. Ukrainian serviceman Yevgeny Bekrenev assessed that the conflict has reached a stalemate and that prolonged fighting only adds casualties.
- Gold bar and plain gold ring prices on Oct 20 afternoon reverse upward at SJC, DOJI, PNJ, Bảo Tín Minh Châu
After falling about 1.6 million VND per tael over two days, domestic gold prices showed signs of recovery: SJC, PNJ, DOJI and Bảo Tín Minh Châu gold bars rose by 600,000 VND per tael to 139.6–142.6 million VND, though still 500,000 VND below early-morning levels. For 9999 gold rings, PNJ rose by 500,000 VND to 138.5–141.5 million VND, while other brands held steady. Globally, spot gold climbed to $4,180 per ounce before retreating to $4,132, according to Kitco, after falling on October 19 as the U.S. dollar strengthened and Treasury yields rose. U.S. stocks ended mixed, with the Nasdaq up 1.1% to 26,430.89 points while the Dow Jones slipped 0.1% to 51,966.03, and European markets fell sharply after protests in France and Italy, with the CAC 40 down 1.11% to 7,868.05.
- BNSF Paid Berkshire Hathaway $4.4 Billion in Dividends Last Year. Berkshire Bought It for $34.5 Billion in 2010.
According to Greg Abel's 2025 shareholder letter, BNSF, the railroad owned by Berkshire Hathaway, generated $8.1 billion in operating earnings in 2025, and $4.4 billion of that was paid to Berkshire as a cash dividend, with the company on pace to at least match that again this year. In the first half of 2026, BNSF's operating earnings reached just over $2.9 billion, up nearly 10% year over year. Berkshire paid $34.5 billion for BNSF in 2010, and the effective dividend yield on that initial investment is now 12.7% after 16 years, not counting the appreciation of the railroad's value. Estimates of BNSF's market value range from $75 billion to $200 billion, and Warren Buffett has described it as Berkshire's second-most-valuable asset, mainly because of the cash it produces. The author suggests shareholders might prefer that Abel make more acquisitions of small cash-generating companies rather than use Berkshire's $365.5 billion in uninvested cash to buy stocks.
- Tesla (TSLA) Reports Earnings Tomorrow: What To Expect
Tesla (NASDAQ: TSLA) will report earnings this Wednesday after the market closes. In the last quarter, the company's revenue beat analysts' expectations, reaching $28.24 billion, up 25.5% year over year, although it significantly missed EPS estimates. This quarter, the market expects revenue to be flat year over year, slowing from the 11.6% increase recorded in the same quarter last year. Analysts have generally reconfirmed their estimates over the past 30 days, and Tesla has missed Wall Street revenue estimates several times over the last two years.
- Gold bar and ring prices on the morning of Oct 20: Sharp declines across the board
Domestic gold prices fell sharply on the morning of October 20 across major brands. At 8:30 a.m., SJC listed gold bars at 139–142 million VND per tael (buy–sell), down 1.1 million; by 9:40 a.m. SJC bar prices had rebounded but were still down 1 million from the previous morning. Gold ring prices also dropped at SJC, DOJI, PNJ and Bảo Tín Minh Châu, by between 600,000 and 1.1 million VND per tael. Globally, spot gold slipped 0.13% to $4,136 per ounce at 7 a.m. Vietnam time before edging up to $4,141 by 10 a.m., according to Kitco. Metals Focus's Matthew Piggott said institutional and central bank buying continues to support prices above $4,000 per ounce, while the firm forecasts an average of $5,330 per ounce in 2027.
- VPBankS Posts Over 3,500 Billion VND in Profit After 9 Months, Up 8% Year-on-Year
CTCP Chứng khoán VPBank (VPBankS, HoSE: VPX) released its third-quarter report, with nine-month total revenue of nearly 10,600 billion VND, almost double the same period last year, and pre-tax profit of 3,516 billion VND, up 8%, amid a complex stock market and shrinking liquidity. Advisory revenue from securities issuance rose 73% to over 1,600 billion VND, while margin lending contributed over 3,000 billion VND, or 28% of total revenue. Outstanding margin loans and advances reached nearly 40,000 billion VND at quarter-end, up 17% from the start of the year, and the customer base grew to 1.6 million, up over 10% from the previous quarter. Equity stood near 36,300 billion VND, and the company announced a board resolution to implement a 150 million USD syndicated loan led by SMBC, while expanding into wealth management through VPBankS Private Wealth.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.