Nippon India Gold, Silver ETFs cross ₹1 lakh cr, precious metals gain scale

Only AMC to cross the ₹1 lakh crore milestone in precious metals ETFs

If you invest in gold or silver through mutual funds, chances are you already have exposure to exchange-traded funds (ETFs)—even if you don’t actively track which fund house manages them.

 

This week, that ecosystem crossed an important marker.

 

Nippon India Mutual Fund’s gold and silver ETF assets together crossed ₹1 lakh crore, making it the largest manager of precious metals ETFs in India. As of January 28, 2026, Nippon India’s Gold ETF held ₹55,124 crore, while its Silver ETF managed ₹47,392 crore, taking the combined total to ₹1.02 lakh crore, according to NSE data.

 

For individual investors, the number itself matters less than what it represents: how mainstream precious metals have become as portfolio assets—and how investors are choosing to access them.

 

 

Industry Leadership Across Precious Metals ETFs

 

Within the Top 10 AMCs managing Gold and Silver ETFs, Nippon India Mutual Fund commands the highest combined AUM, ahead of peers such as ICICI Prudential Mutual Fund (₹48,165.7 crore), HDFC Mutual Fund (₹34,075.7 crore), and SBI Mutual Fund (₹33,103.6 crore). Collectively, the Top 10 AMCs manage ₹2.76 lakh crore in Gold and Silver ETFs. 

Top 10 AMCs – Gold & Silver ETF AUM (₹ crore)

 

The strong growth in Gold and Silver ETF assets reflects investors’ increasing preference for transparent, liquid, and regulated investment avenues to gain exposure to precious metals. Gold ETFs continue to be used as portfolio diversifiers and inflation hedges, while Silver ETFs have seen rising traction amid their dual role as a precious and industrial metal.

 

Why ETFs Are Becoming the Default Way to Own Gold and Silver

 

For years, gold ownership in India meant jewellery or physical bars. Today, a growing share of investors—across retail, HNI and institutional segments—are choosing ETFs instead.

 

• The reasons are straightforward:
• No storage or purity concerns
• Transparent pricing linked to market rates
• Easy liquidity through the stock exchange
• Regulated structure with daily disclosures

 

Gold ETFs are increasingly used as portfolio diversifiers and inflation hedges, while silver ETFs are gaining traction because silver combines precious metal characteristics with industrial demand, making it more sensitive to economic cycles. 

Gold vs Silver: How Investors Are Using Them Differently

 

The split within the ₹1 lakh crore figure is also telling.

 

Gold continues to attract long-term allocators looking for stability, especially during periods of currency volatility, geopolitical stress or equity corrections. Silver, meanwhile, has seen faster adoption over the last two years, driven by:

 

Its role in renewable energy, electronics and EVs

 

Higher price volatility, which appeals to tactical investors

 

Lower ticket sizes compared to gold

 

Many investors now hold both metals, using gold for stability and silver for upside participation.