Inflows into gold ETFs declined sharply by 78% on a monthly basis, falling to Rs 5,254 crore in February from Rs 24,039 crore in January, according to data released by the Association of Mutual Funds in India (AMFI). On a year-on-year basis, gold ETF inflows jumped 165%, up from Rs 1,979 crore in February 2025. Nehal Meshram, Senior Analyst – Manager Research, Morningstar Investment Research India said that Gold ETFs continued to attract healthy inflows in February 2026, albeit at a slower pace compared to the exceptionally strong surge in January and despite the moderation, the figures reflect continued investor interest in gold-backed products.