For the first time in India, investments in gold Exchange Traded Funds (ETFs) have exceeded inflows into equity-oriented mutual funds, reflecting a strong shift in investor preference toward safer assets.
According to data released by the Association of Mutual Funds in India (AMFI), gold ETF inflows more than doubled in January 2026 to a record ₹24,040 crore, marking the third consecutive month of rising investments. The surge highlights growing demand for gold as prices continue to scale new highs.
Gold prices have nearly doubled over the past year, driven by safe-haven demand amid a weakening US dollar, strong central bank purchases, and ongoing geopolitical and geoeconomic uncertainties. Investors appear to be betting that the rally will continue.
Silver ETFs also saw robust participation, with net inflows of ₹9,463 crore. By the end of January, assets under management (AUM) stood at ₹1.84 lakh crore for gold ETFs and ₹1.17 lakh crore for silver ETFs.
The trend signals a cautious market mood, with investors prioritizing stability over equity-driven growth.
