National News
Precious metal ETFs surpass equity fund inflows
In a historic shift for the Indian mutual fund industry, January 2026 witnessed net inflows into precious metal Exchange Traded Funds (ETFs) surpassing equity fund inflows for the first time. Driven by record-breaking rallies in gold and silver, investors pivoted toward “safe-haven” assets amid heightened equity market volatility.
Comparative Inflow Analysis
The month was characterized by a distinct “performance-chasing” trend. Despite robust Systematic Investment Plan (SIP) contributions, equity schemes trailed behind the surge in metal-backed instruments.
| Asset Class | Net Inflow (Jan 2026) | Key Driver |
| Gold & Silver ETFs | ₹33,000 Crore | Unprecedented price appreciation |
| Equity Schemes | ₹24,029 Crore | Market volatility; downward bias |
| Total SIP Contribution | ₹31,002 Crore | Record high; stable growth |
Note: Total Industry AUM has now surpassed the Rs.81 lakh crore milestone.
Commodity Price Dynamics
The surge in inflows correlates directly with extreme price movements on both global (COMEX) and domestic markets during the December 31 – January 29 period.
- Gold: Rallied 23% to an all-time high of $5,586/oz before a late-month correction. Domestically, prices peaked near Rs.2 lakh per 10 grams.
- Silver: Experienced a spectacular 60% climb, peaking at $121/oz before stabilizing at $84/oz. Domestic prices reached Rs.4 lakh per kg, exacerbated by a depreciating Rupee.
Asset Management & Concentration
The bulk of the metal-centric capital was directed toward Gold ETFs, though Silver ETFs maintained a significant secondary share.
- Gold ETF Inflows: Rs.24,040 Crore
- Silver ETF Inflows: Rs.9,000 Crore
National News
P N Gadgil Jewellers Records ₹365 Crore sales during the 3 Day foundation day celebrations
Strong gold-led demand and widespread customer participation power record performance across key markets during the three-day celebration
P N Gadgil Jewellers, one of India’s most trusted jewellery brands with over 193 years of legacy, celebrated its Foundation Day with a Foundation Day sales offering from 7th to 9th February 2026.
The Company received an exceptional customer response, reflecting sustained consumer confidence and strong brand loyalty. The performance during the period was driven by strong demand across all the stores in Maharashtra and other states across India.
The Total Sales during the period amounted to Rs.365 crore, with healthy contribution across all the categories.
The Gold segment emerged as the leading contributor, recording sales of Rs.336 crore with volumes of 203 kg. This was followed by healthy traction in the silver category, which recorded sales of ₹7.4 crore with volumes of 274 kg, while the diamond category reported sales of ₹7.9 crore. The Other segment contributed Rs13.7 crore during the period.
Dr. Saurabh Gadgil, Chairman & Managing Director, commented
The Foundation Day sales contributed very positively to the business momentum and exceeded management expectations. This strong customer response, despite elevated gold prices, reflects the trust customers place in PNG Jewellers and the strength of our value focused offerings.
We witnessed strong performance across our core western markets, complemented by robust traction in Madhya Pradesh, Uttar Pradesh, and Bihar. This response to the Foundation Day initiative has provided a positive start to the quarter. With ongoing wedding demand and the upcoming Gudi Padwa season, we are well placed to sustain the current momentum.
source:P N Gadgil Jewellers,
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