AMFI January 2026 data: Amid high activity in the precious metals market, the gold and silver exchange-traded funds (ETFs) in India have drawn unprecedented inflows in January, according to the latest data by AMFI.
High investor interest has pushed gold and silver ETFs to collectively see an inflow of ₹33,503 crore in January, the data showed.
Gold ETF alone saw inflows worth ₹24,040 crore, which is nearly double of December’s ₹11,647 crore. Meanwhile, silver ETFs recorded a ₹9,463 crore inflow, highlighting the rising interest of investors in exchange-traded products that are not equities.
The milestone marks one of the strongest monthly endorsements of bullion by domestic investors in recent years.
Year-to-date (FYTD), gold ETFs have alone attracted ₹61,000 crore, suggesting sustained investor interest in precious metals as an asset class at a time when equity markets remain volatile.
“Precious metals continue to shine; Gold ETF flows in Jan have doubled over December. January saw record single-month flows of nearly 24,000 Crs, taking the FYTD number to approximately 61,000 Crs,” said Anand Vardarajan, Chief Business Officer at Tata Asset Management.
Ankur Punj, MD and Business Head at Equirus Wealth, said that the surge in gold reflects investors seeking safe-haven assets amid geopolitical risks, price corrections after 2025 gains, and uncertainty over US Fed rate pauses. It echoes caution seen in smallcaps at peaks, where retail chased highs before corrections, but gold should be viewed as diversification tool (10-15% allocation).
Meanwhile, thematic and index-linked ETFs also saw higher participation in January, pulling in ₹15,006 crore as compared to ₹13,199 crore in December.
Gold ETFs in demand globally
The surge in the inflow in gold ETF in January reflects a broader worldwide trend.
According to data from the World Gold Council, January 2026 itself accounted for 12.5% of total gold ETF assets under management in the domestic market.
Gold ETF holdings worldwide remain near a more than three-year high, even after a pullback in prices last week, as the drivers behind the blistering rally — including elevated geopolitical risk and waning confidence in sovereign bonds and currencies — remain in place.
Equity MF inflows fall for second straight month
Equity mutual funds attracted net inflows of ₹24,028 crore in January, according to AMFI data. This recorded a decline of 14% from December, and a fall for the second straight month amid market volatility and a cautious stance by investors.
Equity inflows softened month-on-month from ₹28,054 crore in December and ₹29,911 crore in November, although they remained higher than ₹24,690 crore recorded in October, data showed.
Within equity schemes, flexi-cap funds led inflows with net additions of ₹7,672 crore, followed by mid-cap funds at ₹3,185 crore and large and mid-cap funds at ₹3,182 crore.
Overall, the industry recorded net inflows of ₹1.56 lakh crore during the month, recovering from net outflows of ₹66,591 crore in December, supported by inflows across multiple fund categories.
