Gold ETF Assets Jump 164% to ₹1.91 Lakh Crore: Emkay Report
Gold ETF assets in India rose to ₹1.91 lakh crore in August 2026 from ₹72,500 crore a year ago. Silver ETFs hold about ₹85,000 crore. What the commodity shift means for investors.
Key Highlights
- Big jump: Gold ETF assets rose to ₹1.91 lakh crore in August 2026, up 164% from ₹72,500 crore a year earlier.
- Silver too: Silver ETFs held about ₹85,000–86,000 crore.
- Multi-asset boom: Multi-asset allocation funds held over ₹2.07 lakh crore, up 57%, with 60 straight months of inflows.
- Changing habits: Younger buyers prefer lighter jewellery, shrinking jewellery’s share of gold demand.
- Beyond hedging: Investors increasingly use commodities for diversification and risk management.
Indians are increasingly buying gold without ever holding it. Gold exchange-traded fund (ETF) assets in India rose to ₹1.91 lakh crore in August 2026, up 164% from about ₹72,500 crore a year earlier, according to a report by Emkay Global Financial Services. That is roughly 2.6 times in a single year.
The Numbers
| Category | Assets (August 2026) | Change |
|---|---|---|
| Gold ETFs | ₹1.91 lakh crore | +164% YoY |
| Silver ETFs | ~₹85,000–86,000 crore | – |
| Multi-asset allocation funds | ₹2.07 lakh crore+ | +57% YoY; 60 straight months of inflows |
Why It Matters: Two Forces at Work
The surge in gold ETF assets reflects two things at once. First, gold prices have been strong. Gold began 2026 by setting 11 new highs in its first two months, which automatically raises the value of ETF holdings. Second, more investors are choosing ETFs, which offer gold exposure without worries about purity, storage or making charges.
So the 164% jump is not all fresh money; part of it is price gains. But the trend in investor behaviour is clear, and it is backed by the steady rise of multi-asset funds, which have drawn inflows every month for five years.
