India gold ETFs swing back to ₹3,443.23 crore of net inflows in June after ₹725.04 crore outflows in May
India's gold ETF flows flipped to strong net inflows in June (₹3,443 crore) after May outflows driven by profit-taking following a sharp import duty hike that lifted domestic prices. The quick return of inflows as prices cooled suggests resilient demand and reinforces gold's role as a strategic hedge amid geopolitical risk and rate-path uncertainty. H1 CY2026 inflows far exceeded last year's pace, underscoring sustained safe-haven allocation.
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India’s gold ETFs recorded net inflows of ₹3,443.23 crore in June, reversing a net outflow of ₹725.04 crore in May. The May pullback followed a sharp jump in domestic gold prices after the government raised customs duty on gold imports from 6% to 15% in mid-May, prompting profit-taking. As prices cooled in June, investors returned quickly. Net inflows for the first half of CY2026 totalled around ₹37,319 crore, far above ₹8,021 crore a year earlier, according to Morningstar Investment Research India.