NEW DELHI — Indian investors did something unusual in January 2026. For the first time, they poured almost the same amount of money into gold ETFs as they did into equity mutual funds. AMFI’s latest numbers show gold ETFs pulled in about ₹24,040 crore—basically neck and neck with equity funds, which brought in around ₹24,029 crore.
Just a month before, gold ETF inflows were less than half this. But in January, investors doubled down on gold funds. All the market drama and global uncertainty clearly pushed people to look for safer places to park their money.
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Here’s what stood out in the January data:
Gold ETFs were hot: Inflows soared, thanks to rising gold prices and the relative ease of buying ETFs instead of physical gold.
Equity fund inflows cooled off: People still invested in equity funds, but the amount dropped by 14% from December. It’s a sign that investors are getting a bit cautious about stocks.
Diversification stayed in the spotlight: Investors kept spreading their money around—some into debt funds, hybrids, or passive funds—to cushion against stock market swings and inflation.
Usually, equity funds dominate monthly inflows, especially when markets look good. But gold’s safe-haven reputation is shining right now, boosted by things like global tensions and shaky currencies.
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Why are people turning to gold?
There are a few reasons:
Gold prices have been on a tear since late 2025, pulling money from both small investors and big institutions. Gold ETFs make it easy to get exposure to gold without having to worry about storing it or figuring out if it’s real. More investors are experimenting with multi-asset and hybrid funds—mixing gold, stocks, and debt—to smooth out the ups and downs.
So, what’s the takeaway for investors?
The fact that gold ETF inflows matched equity funds doesn’t mean people are ditching stocks. Instead, they’re using gold as an extra layer of protection. SIPs (Systematic Investment Plans) are still going strong, so confidence in mutual funds isn’t going anywhere.
If you’re investing for the long haul, equities still make sense for growth. But this shift in January is a good reminder: diversification really matters, especially when markets get unpredictable.
