India’s gold exchange-traded funds recorded their highest-ever monthly inflows in December 2025, underscoring strong investor interest in the yellow metal, according to World Gold Council data.
Indian gold
ETFs attracted $1.25 billion in net inflows in December, a 231 per cent jump from $379 million in November and the largest monthly total on record for the country. The month marked the seventh straight with positive flows, with only March and May seeing outflows during 2025.
India ranked second globally in gold ETF inflows for the month, behind the US with $6.07 billion, followed by China and the UK, as global ETF inflows reached about $10 billion in December.
For the full year, net inflows into Indian gold ETFs hit $4.68 billion, the most ever in a calendar year, compared with $1.29 billion in 2024, $310 million in 2023 and just $33 million in 2022.
The year 2025 was exceptional for Asian gold ETFs, with total inflows of roughly $25 billion — more than the cumulative flows from 2007 (when the region’s first gold ETF launched) through 2024 — as gold prices surged about 53 per cent during the year, drawing significant investor capital into physically backed gold funds.
Globally, gold ETF inflows also hit a record $89 billion in 2025, while assets under management doubled to an all-time high of $559 billion and total holdings climbed to about 4,025 tonnes from 3,224 tonnes in 2024, driven by safe-haven demand amid trade disputes, geopolitical tensions and market volatility.
Looking ahead, experts say recent strong precious metals flows, including into silver and platinum, alongside routine commodity index rebalancing, may create near-term volatility, while ongoing geopolitical developments continue to reinforce gold’s appeal as a safe haven.
