Gold and silver traded lower across domestic and international markets, even as ETF investments continue to move strongly into gold-backed funds.

On MCX, Gold Futures for 02 April 2026 were trading at Rs 1,60,694 per kilogram, down 0.28%, while Silver Futures for 05 March 2026 stood at Rs 2,65,500 per 30 kilograms, down 1.05%.

In the overseas market, COMEX Gold was quoted at $5,215.4 per troy ounce, down 0.21%, with each futures contract representing 100 troy ounces. COMEX Silver was trading at $89.360 per troy ounce, down 1.79%, with each contract representing 5,000 troy ounces.

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Indian ETFs seeing a gold rush? 

While benchmark prices eased during the session, allocation data points to a much larger trend building underneath.

The Kobeissi Letter noted that Indian investors are rushing for gold at an unprecedented pace, with gold ETF inflows reaching nearly Rs 0.25 lakh crore, marking an all-time high. It added that inflows into gold funds have surpassed equity mutual fund inflows for the first time. Since July, gold ETF inflows have risen more than 900%, while equity fund inflows have declined by Rs 0.17 lakh crore. The note concluded that Indian retail investors are choosing gold over equities.

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That allocation pattern is visible even on a day when most bullion-linked ETFs are trading in the red.

Silver ETF

Across silver ETFs, Tata Silver ETF was trading at Rs 25.55, down 0.58%, Nippon India Silver ETF at Rs 251.60, down 0.65%, Zerodha Silver ETF at Rs 26.66, down 0.82%, and ICICI Prudential Silver ETF at Rs 262.47, down 0.63%. HDFC Silver ETF stood at Rs 251.74, down 0.52%, Groww Silver ETF at Rs 25.76, down 0.62%, Aditya Birla Sun Life Silver ETF at Rs 262.31, down 0.65%, and SBI Silver ETF at Rs 257.40, down 0.65%. UTI Silver ETF was at Rs 253.80, down 0.70%, Kotak Silver ETF at Rs 255.11, down 0.92%, Axis Silver ETF at Rs 260.75, down 0.77%, DSP Silver ETF at Rs 253.36, down 0.83%, Mirae Asset Silver ETF at Rs 255.86, down 1.06%, 360 ONE Silver ETF at Rs 259.14, down 0.35%, Edelweiss Silver ETF at Rs 262.52, down 0.93%, Motilal Oswal Silver ETF at Rs 259.80, down 0.73%, and Bandhan Silver ETF at Rs 263.13, down 0.42%.

Gold ETF

Gold ETFs showed similar marginal declines. Tata Gold Exchange Traded Fund traded at Rs 15.39, down 0.13%, Nippon India ETF Gold BeES at Rs 131.37, down 0.24%, Zerodha Gold ETF at Rs 24.99, down 0.28%, and ICICI Prudential Gold ETF at Rs 135.97, down 0.29%. Groww Gold ETF stood at Rs 15.53, down 0.26%, HDFC Gold Exchange Traded Fund at Rs 135.61, down 0.28%, SBI Gold Exchange Traded Scheme at Rs 135.41, down 0.27%, and Kotak Gold Exchange Traded Fund at Rs 132.34, down 0.29%. 

Angel One Gold ETF was at Rs 14.80, down 0.13%, Mirae Asset Gold ETF at Rs 154.13, down 0.26%, Axis Gold ETF at Rs 132.53, down 0.23%, and UTI Gold Exchange Traded Fund at Rs 133.60, down 0.15%. 

Birla Sun Life Gold ETF traded at Rs 139.41, down 0.39%, DSP Gold ETF at Rs 154.20, down 0.26%, 360 ONE Gold ETF at Rs 154.55, down 0.10%, Union Gold ETF at Rs 155.10, down 0.16%, and Choice Gold ETF at Rs 157.49, down 0.08%.

Baroda BNP Paribas Gold ETF stood at Rs 153.20, down 0.33%, Bandhan Gold ETF at Rs 158.48, down 0.48%, The Wealth Company Gold ETF at Rs 157.07, down 0.32%, LIC MF Gold ETF at Rs 14,288.00, down 0.18%, and Invesco India Gold ETF at Rs 13,813.65, down 0.22%.

Prices may have cooled for the day across exchanges, but the scale of money moving into gold ETFs suggests that the preference for bullion exposure remains firmly in place.

Gold and silver futures closed lower across MCX and COMEX, and most domestic gold and silver ETFs indicated the same direction during the session. At the same time, official fund flow data shows sustained inflows into gold ETFs while equity fund inflows have declined over the same period.