Gold and Silver extended sharp decline across both Indian and international markets hitting their lowest levels in over 11 weeks. The sharp price action also impacted investor sentiment in ETFs. Both silver and gold exchange-traded funds saw sharp corrections. The losses across Silver ETFs were deeper, down over 4% each.
Silver, gold extend overnight losses
Volatile swings in oil prices led to selling pressure in the precious metals market. On MCX Gold August 2026 Futures were trading at Rs 1,49,875 per 10 grams, down 1.7%, while Silver July 2026 Futures fell 1.2% to Rs 2,35,600 per kilogram mark.
In international markets, spot gold was quoted around $4,204 per troy ounce, down 1.6%, while Comex silver futures was trading near the $64 per troy ounce level, declining 1.35%.
Silver ETFs decline 4% on an average
Silver-ETFs posted steep declines during the intraday session. Tata Silver Exchange Traded Fund traded at Rs 22.59, down 4.08%, while Nippon India Silver ETF fell 4.22% to Rs 222.10. Groww Silver ETF declined 4.17% to Rs 22.70 and Zerodha Silver ETF decreased 4.27% to Rs 23.57. HDFC Silver ETF plummeted 4.42% to Rs 221.83, while ICICI Prudential Silver ETF tumbled 4.11% to Rs 232.11.
Kotak Silver ETF traded at Rs 22.53 with a 4.33% drop, Angel One Silver ETF fell 3.88% to Rs 8.92 and SBI Silver ETF moved down 4.29% to Rs 227.33. Aditya Birla Sun Life Silver ETF declined 4.21% to Rs 231.75, while Axis Silver ETF traded at Rs 230.73, falling by 4.37%.
UTI Silver ETF moved down 4.36% to Rs 223.88, DSP Silver ETF declined 4.35% to Rs 223.50 and Bandhan Silver ETF fell 4.27% to Rs 232.90. Mirae Asset Silver ETF traded at Rs 225.75, dropping 4.40%, while Motilal Oswal Silver ETF decreased 4.01% to Rs 229.72. Edelweiss Silver ETF declined 4.07% to Rs 232 and 360 ONE Silver ETF moved down 4.17% to Rs 228.57
Gold ETFs under selling pressure
Gold ETFs also traded in red. Tata-Gold Exchange Traded Fund fell 2.79% to Rs 14.31, while Nippon India ETF Gold BeES declined 2.96% to Rs 121.68. Groww Gold ETF traded at Rs 14.37, down 3.04%, and ICICI Prudential Gold ETF tumbled 3.21% to Rs 125.73.
Zerodha Gold ETF declined 2.99% to Rs 23.14, while SBI Gold Exchange Traded Scheme dropped 3.17% to Rs 125.30. HDFC Gold ETF traded at Rs 125.73, down 2.90%, and Angel One Gold ETF shrinked 2.83% to Rs 13.75.
Kotak Gold Exchange Traded Fund moved down 3.10% to Rs 122.74, LIC MF Gold ETF traded at Rs 132.70, down 2.78% and UTI Gold Exchange Traded Fund fell 2.90% to Rs 123.85. Axis Gold ETF dropped 3.38% to Rs 121.00, while Mirae Asset Gold ETF plummeted 2.80% to Rs 143.01.
Birla Sun Life Gold ETF slumped 2.81% to Rs 129.55, while Motilal Oswal Gold ETF traded at Rs 147.75, down 2.70%. Union Gold ETF decreased 2.63% to Rs 144.30 and Quantum Gold Fund ETF fell 2.92% to Rs 121.82.
Conclusion
Overall the concerns across the commodity markets mirrored in ETFs too. Investors sold off as apprehension about the US Fed rate action weighed on the precious metals.
Disclaimer: The information provided in this article is for informational purposes only and should not be considered as investment advice or a recommendation to buy, sell, or hold any securities. Investments in exchange-traded funds (ETFs) and commodities are subject to market risks, including fluctuations in gold and silver prices. Investors should assess their financial goals and risk appetite and consult a qualified financial advisor before making any investment decisions. Past performance is not indicative of future returns.