Investor interest in gold exchange-traded funds (ETFs) has sharply declined, with March inflows dropping to ₹2,265.68 crore (approximately $272 million USD), down 56.9% from ₹5,254.95 crore in February. This trend coincides with a notable shift towards equities, which saw net inflows rise to ₹40,450.26 crore (about $4.9 billion USD), reflecting a 55.7% month-on-month increase. The decline in gold inflows is attributed to more favorable valuations in equities and a broader market correction, with gold prices falling around 7% domestically and 11% internationally in March. Analysts suggest that while the pace of investment in gold ETFs has slowed, the long-term outlook remains positive, encouraging investors to consider accumulating gold during price declines. In contrast, the overall mutual fund industry reported a reversal with net outflows of ₹2.40 lakh crore (approximately $29 billion USD) in March, primarily driven by significant outflows from debt mutual funds.