Mumbai, Feb 11 || The combined assets under management (AUM) of gold and silver exchange‑traded funds (ETFs) touched record highs, crossing Rs 3 lakh crore in January, according to the data from the Association of Mutual Funds in India (AMFI).
The surge marked a near‑threefold rise in five months from Rs 1 lakh crore in August 2025 driven by record investor inflows despite sharp price volatility.
The expansion was accompanied by a sharp rise in folios as gold ETF folios surged to 1.14 crore from 80.34 lakh, while silver ETF folios jumped to 47.85 lakh from 11.31 lakh over the same period.
January saw all-time high inflows, with gold ETFs recording inflows of Rs 24,039 crore and silver ETFs attracting Rs 9,463 crore, according to AMFI.
Those combined inflows exceeded equity fund inflows of Rs 24,029 crore for the month. In December, combined inflows into gold and silver ETFs stood at Rs 15,609 crore, compared with Rs 28,055 crore into equity funds.
Analysts said the shift reflected a temporary reallocation by investors toward defensive assets amid moderation in inflows to equity mutual fund inflows due to macroeconomic uncertainty.