Gold & Silver ETFs: Indian markets witnessed an unprecedented surge in Gold & Silver ETFs in January 2026, recording net inflows of ₹33,500 crore. Out of the ₹33,500 crore, approximately ₹24,039 belonged to Gold ETFs according to the World Gold Council’s recent report. While Silver ETFs attracted Rs 9,463 crore in January. Combined, both Gold & Silver ETFs surpassed the inflow of Equity Traded Funds, which were recorded as ₹24,029 crore, according to the latest data released by AMFI.
Notably, January’s Gold ETFs inflow figure ranked as the third highest globally, after the US and China, which highlighted India’s growing influence in global gold investment flows.
GOLD & SILVER ETFs: INVESTOR PREFERENCE
The surge in inflows underscores a rising interest among retail investors in commodity-focused investment products. In January alone, gold ETFs saw inflows of over ₹24,039 crore, while silver ETFs attracted ₹9,463 crore, signaling a widespread shift toward safe-haven assets after robust price gains in 2025. Despite some recent profit-taking, both metals continue to maintain strong investor demand.
Between 2022 and 2026, silver ETFs delivered an impressive extended internal rate of return (XIRR) of 62%, far surpassing many conventional asset classes, while gold ETFs achieved a 42% XIRR over the same period, further solidifying their appeal for long-term investors.
According to Kavita Chacko, Research Head, India World Gold Council, “Gold ETFs now account for 2.3% of the total mutual fund industry AUM, the highest share on record and a notable increase from 0.8% a year ago.”
Nippon India Mutual Fund, the largest manager of gold and silver ETFs, added nearly 600,000 new investors in January alone. According to Saugata Chatterjee, President and Chief Business Officer at Nippon India MF, rising participation in precious metal ETFs has been the key driver behind this strong momentum.
STATE OF EQUITY FUND FLOW
In contrast, inflows into equity mutual funds slowed in January, falling roughly 14% compared with December. Large-cap funds garnered ₹2,005 crore, while mid-cap and small-cap funds saw inflows ease to ₹3,185 crore and ₹2,942 crore, respectively. Sectoral and thematic funds attracted ₹1,043 crore, while monthly SIP contributions remained stable at ₹31,002 crore, reflecting ongoing retail participation despite changing allocation trends.
GOLD ETF: STAR OF THE SHOW
The surge in Gold ETF inflows, coupled with rising gold prices, pushed total assets under management (AUM) of gold ETFs to ₹1,842 billion (US$20 billion) by the end of January — a more than threefold increase year-on-year.
Cumulative holdings across 25 gold ETFs surpassed the 100-tonne milestone, with 15.5 tonnes added in January alone, bringing total holdings to 110 tonnes.
Gold ETFs now represent 2.3% of total mutual fund AUM, a remarkable increase from 0.8% a year ago, highlighting their growing significance in Indian investors’ portfolios
GOLD ETFs PERFORMANCE OVERALL
Beyond ETF inflows, January 2026 was exceptional for gold across multiple metrics:
- International gold prices scaled 12 all-time highs, peaking at US$5,400/oz, before easing slightly to hover around US$5,000/oz.
- Domestic gold prices rose sharply, achieving a record ₹175,231/10g, up 24% year-on-year, aided by INR depreciation.
- The RBI’s gold reserves recorded a marginal increase of 0.13 tonnes, taking total holdings to 880.3 tonnes, accounting for 17.2% of India’s forex reserves, the highest on record.
- Gold imports surged to a three-month high, totaling 95–100 tonnes, with an import bill of US$12.1 billion, up 192% month-on-month, driven by strong investment demand and budget anticipation.
- Digital gold purchases reached new heights, with ₹39 billion (US$432 million) bought via UPI, a 90% increase month-on-month and a fourfold rise year-on-year. The estimated volume purchased digitally was 2.6 tonnes, up 70% month-on-month.
GOLD & SILVER ETFs: FAQs
1. Why did Gold and Silver ETFs witness such massive inflows in January 2026?
The surge in inflows—₹33,500 crore combined—reflects growing retail interest in commodity-focused investment products. Investors are increasingly viewing gold and silver as safe-haven assets after strong price momentum in 2025, and the trend was further supported by robust returns from 2022–2026 (42% XIRR for gold and 62% XIRR for silver).
2. How do Gold & Silver ETF inflows compare with equity mutual fund inflows?
Gold and Silver ETFs together surpassed equity fund inflows in January, with ₹33,500 crore flowing into precious metal ETFs versus ₹24,029 crore in equity funds. While equity mutual fund inflows moderated by 14% compared with December, SIP contributions remained stable at ₹31,002 crore.
3. What makes Gold ETFs particularly significant in India’s mutual fund industry?
Gold ETFs now account for 2.3% of total mutual fund AUM, up from 0.8% a year ago—the highest share on record. Total assets under management of gold ETFs reached ₹1,842 billion (US$20 billion), with cumulative holdings across 25 ETFs surpassing 110 tonnes, highlighting their increasing role in Indian investors’ portfolios.
4. How have Gold and Silver ETFs performed historically?
Between 2022 and 2026, silver ETFs delivered an impressive XIRR of 62%, far outperforming many traditional asset classes, while gold ETFs generated a 42% XIRR, reinforcing their long-term appeal for investors seeking stable returns.
5. How did broader gold market metrics support the ETF momentum?
January 2026 was exceptional for gold: international prices hit a peak of US$5,400/oz, domestic gold rose to ₹175,231/10g (up 24% YoY), RBI gold reserves reached a record 880.3 tonnes (17.2% of forex reserves), and digital gold purchases soared to ₹39 billion (≈2.6 tonnes). Rising investment demand, imports, and retail participation all fueled ETF inflows.
Gold Price Today Digital Media Network
Facebook Page (100K Followers)- https://www.facebook.com/Goldsilverpricetoday
Facebook group of (80K Jewellers Member – Sunar Jewellers Ekta – https://www.facebook.com/groups/goldsilverpricenews
Website (100000 Users)- https://goldpricetoday.co.in/
Instagram (46 K Followers)- https://www.instagram.com/goldpricetodaynews/
X- https://twitter.com/today_gold
Telegram Group (2000 Members)- https://telegram.me/goldsilverprice
Magazine (20000 Digital Subscribers): Gold Silver News For Magazine Subscription Contact +919111435279
Whatsapp News(25000 Members): +918448469588
