Mumbai, Jan. 9 -- India's equity investors are flocking to gold exchange-traded funds (ETFs) as a hedge against stock market volatility amid global headwinds.

Gold ETFs saw record monthly net inflows of Rs.11,646.74 crore in December, surpassing inflows into flexi-cap funds, which received Rs.10,019.27 crore, showed data from the Association of Mutual Funds in India (Amfi). Flexi-cap funds are open-ended equity mutual funds that invest across large-, mid-, and small-cap companies.

Earlier, in September also, gold ETFs touched record inflows of Rs.8,363 crore.

"Stellar returns generated by precious metals over the past year have attracted investments into gold through asset allocation funds," said Mahesh Patil of Aditya Birla Sun Life A...