Indians have always preferred real gold, but many are still apprehensive to buy gold exchange-traded funds (ETFs). Even though gold exchange-traded funds (ETFs) have several advantages over physical gold, such as cost-effectiveness, safety, and liquidity, this reluctance still exists. By examining investor demographics and investment behaviors, this study aims to identify the primary social determinants impacting Gold ETF investments. Stratified random sampling was used to ensure that the study’s participant sample was representative. The sample includes representation from a wide range of demographic variables, such as age, gender, income, education, and occupation. Data were gathered using structured surveys and interviews. The survey inquired about demographic data, investment preferences, perceived risks, social influences, and awareness about Gold ETFs. Using DFA, the socioeconomic factors that significantly distinguish investors who choose Gold ETFs from those who do not were discovered. This investigation helped to clarify the relationship between certain social qualities and investment behavior. The anticipated outcomes included the ability to pinpoint significant social factors that impact investors’ choices to purchase gold exchange-traded funds (ETFs), as well as insights into the characteristics of investors and non-investors. Additionally, the ability to suggest to financial institutions and policymakers that gold ETF investments be promoted in light of the social attributes discovered would be useful. Financial institutions can develop targeted marketing efforts and educational initiatives by utilizing the scientific understanding of the social determinants influencing investments in Gold ETFs presented by this study. Legislators may utilize this data to develop initiatives that would boost the usage of Gold ETFs, hence improving investor satisfaction and market efficiency.