Gold ETF Inflows Plummet 78% in February to Rs 5,255 Crore

Gold ETF Inflows Slow Sharply in February

Gold exchange-traded funds (ETFs) saw a significant decline in inflows in February 2026, following a record surge in the previous month. According to the Association of Mutual Funds in India (AMFI), gold ETFs recorded inflows of approximately Rs 5,255 crore in February, a sharp moderation from the Rs 24,039.96 crore that flowed into the category in January.

The sharp decline in gold ETF inflows is attributed to a normalization of investor allocations after an unusually strong surge in January. This surge had pushed gold ETF investments close to equity mutual fund inflows, highlighting strong investor demand for gold amid global uncertainties and volatile equity markets. The decline in February's inflows indicates that investors may have paused allocations, rather than a reversal in investor sentiment.

Passive Fund Category Inflows

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Across passive fund categories, which include index funds, gold ETFs, other ETFs, and fund of funds investing overseas, total inflows stood at approximately Rs 13,879 crore in February. This is significantly lower than the record Rs 39,954 crore seen in January and Rs 11,000 crore in December.

Category-Wise Inflows

• Index funds continued to attract steady investor interest, with inflows of approximately Rs 3,233 crore during the month.
• Other ETFs recorded inflows of roughly Rs 4,487 crore.
• Funds of funds investing overseas saw inflows of approximately Rs 904 crore.