Indian gold ETFs have generated returns of more than 15 percent in August when world gold prices surged to new highs, Financial Express reports. Morningstar India said gold ETFs returned 14.2 percent in September 2008 amid the meltdown in the global markets.

So far in 2011, gold ETFs have generated returns of more than 29 percent, compared to the high return of more than 40 percent in the last one year. In contrast, equity funds have generated negative returns in the last one year. Gold prices surpassed $1,911 in late August before closing the month with an increase of 11.4 percent.

Click here for the story from Financial Express.