HDFC Mutual Fund pulls Gold Silver FoF NFO over trade balance fears

A gold silver NFO is cancelled amid rising import pressure

HDFC Mutual Fund has withdrawn its proposed Gold-Silver Passive Fund of Fund NFO, blaming concerns that rising precious metal imports could worsen India’s trade balance. The move follows Prime Minister Modi’s call to curb gold and silver buying and higher import duties, as the government and firms prioritize conserving foreign exchange reserves amid global uncertainty.