Volatile times for the precious metal segment, and now a sharp disconnect between the MCX–ETF space can be seen in intra-day action. Even as gold and silver spot and future prices trade firmly across domestic and global exchanges, ETFs are lagging behind significantly.
Gold, silver rates today
On MCX, gold April 2 contracts is hovering around Rs 1,54,199 per 10 grams, up 0.89%, while silver for March 5 delivery has jumped 2.68% to Rs 2,42,765 per kg.
On COMEX, gold futures are quoted at $4,976.8 per troy ounce, up $28.4 or 0.57%, and silver futures are trading at $76.925 per troy ounce, up $1.243 or 1.64%. One troy ounce equals 31.1035 grams, and COMEX prices are quoted in US dollars per troy ounce, unlike MCX, which quotes gold per 10 grams and silver per kilogram.
While bullion futures are trading in the green, exchange-traded funds tracking the metals are showing declines for the day.
Silver ETFs
Tata Silver ETF is trading at Rs 23.37, down 6.11% for the day. Nippon India Silver ETF is at Rs 230.07, lower by 6.24%. Zerodha Silver ETF is priced at Rs 24.44, down 6.14%, while HDFC Silver ETF stands at Rs 229.67 with a 6.50% decline.
ICICI Prudential Silver ETF is trading at Rs 240.30, down 6.09%, and Groww Silver ETF is at Rs 23.55, lower by 6.25%. Aditya Birla Sun Life Silver ETF is quoted at Rs 240.17, down 6.07%, and SBI Silver ETF is at Rs 235.22, down 6.33%.
UTI Silver ETF is trading at Rs 231.82, down 6.36%, while Kotak Silver ETF is at Rs 233.10 with a 6.55% fall. DSP Silver ETF is priced at Rs 231.41, down 6.36%, and Mirae Asset Silver ETF is at Rs 233.50, down 6.83%, marking one of the steepest declines among peers.
Axis Silver ETF is trading at Rs 239.10, down 6.04%, Edelweiss Silver ETF is at Rs 240.65, down 6.53%, 360 ONE Silver ETF is quoted at Rs 238.09, lower by 5.90%, Bandhan Silver ETF is at Rs 240.53, down 6.37%, and Motilal Oswal Silver ETF is trading at Rs 238.18, down 6.47% for the day.
Gold ETFs
Tata Gold Exchange Traded Fund is trading at Rs 14.81, down 1.73% on the day. Nippon India ETF Gold BeES is at Rs 125.94, lower by 2.01%, and Zerodha Gold ETF is priced at Rs 23.92, down 2.25%.
ICICI Prudential Gold ETF is trading at Rs 130.25, down 2.30%, while HDFC Gold Exchange Traded Fund stands at Rs 129.94, lower by 2.16%. SBI Gold Exchange Traded Scheme is at Rs 129.85, down 2.08%, and Groww Gold ETF is quoted at Rs 14.89, down 1.85%.
Axis Gold ETF is trading at Rs 126.59, lower by 2.41%, Mirae Asset Gold ETF is at Rs 147.96, down 1.98%, and Kotak Gold Exchange Traded Fund is priced at Rs 127.25, down 1.87%.
Quantum Gold ETF is trading at Rs 126.56, down 1.94%, Edelweiss Gold ETF is at Rs 152.60, lower by 2.15%, and Motilal Oswal Gold ETF is priced at Rs 150.85, down 1.98%.
360 ONE Gold ETF is trading at Rs 149.45, down 1.58%, Choice Gold ETF is at Rs 151.57, lower by 1.62%, and Bandhan Gold ETF stands at Rs 151.77, down 2.37%.
The Wealth Company Gold ETF is quoted at Rs 151.55, down 1.62%, Union Gold ETF is trading at Rs 149.30, down 2.55%, Baroda BNP Paribas Gold ETF is at Rs 147.85, lower by 1.73%, LIC MF Gold ETF is trading at Rs 13,762.00, down 1.97%, and Invesco India Gold ETF is at Rs 13,255.05, lower by 1.69% as of mid-session.
Despite gains in MCX and COMEX bullion prices, gold and silver ETFs remain under pressure during the session, pointing to a temporary disconnect between futures markets and fund pricing that may adjust by closing trade.