Gold Exchange-Traded Funds (ETFs) witnessed net inflows of Rs 124 crore in April after outflows of Rs 267 crore in March.

Inflows into gold funds have remained volatile with net outflows of Rs 323 crore over the past 12 months.

Gold prices climbed over the past few months. Given this, some investors chose to book profits, while others bought with a view that central banks would pause rate hikes.

That said, investors again flocked to gold ETFs in April given economic uncertainties in the developed economies including the ongoing banking crisis in the US. Aggressive buying by central banks across the world is expected to keep gold demand buoyant and prices upbeat.