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In January 2026, Indians opened 12 lakh new gold ETF folios in a single month; in August, barely 4,000 were added. Retail gold purchases haven't stopped, though, and August purchases through UPI apps more than doubled from a year earlier. The catch is where that money now sits and if it is in a regulated environment.
August inflows into gold ETFs rose 67% from July to ₹2,597 crore| Image: Shutterstock

F&O Corner