In the one year horizon, the schemes gave around 12.36%. DSP World Gold FoF gave the most of around 15.74%. In a three year horizon, the schemes have offered around 2.65%. Axis Gold Fund gave the highest return of 3.74%, and DSP World Gold FoF lost the most of around 9.43% in the three year horizon.
The probability that the Fed will raise its benchmark rate by 25 basis points to a range of 5.25%-5.50% in July was above 90% for most of the month, according to Interest Rate Futures. International gold prices ended the month around 2.7% higher. Domestic prices moved up by around 2.9%. However, there was some volatility along the way.
Gold prices, which had softened over the last few weeks, may again shoot up and touch Rs 62,000 per 10 gm according to jewellers and fund managers. The movement of the yellow metal will largely be guided by the economic data in the West, and the magnitude of the recession in the US.
Chennai, June 2: The weakness in the US dollar and the likelihood of the US Federal Reserve hitting the pause button on interest rate hike made gold attractive, said an analyst.