Gold ETFs, Dec. 15 -- Gold and its poorer cousin silver have emerged as the best-performing assets this year, significantly outpacing returns offered by equity and the crypto market. Gold's stellar surge in the year 2025 has lured investors to the market, with inflows into exchange-traded funds remaining positive for the seventh month in a row.

According to AMFI data, gold ETFs continued to witness healthy investor interest in November, recording net inflows of Rs.3,741 crore. The returns offered by the top-performing gold ETFs this year have been upward of 72%, increasing their lure for investors.

But the question is, has this rally in gold ETFs and gold prices run ahead of fundamentals?

"The rally has been powerful, no doubt - and so...