Gold ETFs Flat, Silver ETFs Post Modest Gains on Wednesday

Mumbai, July 29: Gold and silver ETFs took differing paths on Wednesday’s NSE session, with gold-linked funds trading largely rangebound while silver ETFs posted modest but broad-based gains across the board, according to NSE data at 2.30 pm. 

Spot gold showed little directional conviction through the morning session, with most gold ETFs oscillating within a tight band of their previous close. Silver ETFs, by contrast, saw steady buying interest, extending a firmer tone that has persisted through much of the week even as the underlying metal’s price action has been choppy amid shifting sentiment on the Iran-US conflict. 

The moves on Wednesday come even as both metals remain tied to the same safe-haven narrative, with investors weighing the fragile Iran-US truce against a rebound in equity markets and firmer risk appetite that has periodically drawn flows away from bullion. 

Gold ETFs 

• Gold ETFs listed on the NSE traded largely flat through Wednesday’s session, with most funds moving less than 0.1 per cent in either direction. 

• Among pure gold ETFs: 

• Nippon India Gold ETF (GOLDBEES): Rs 116.89, up 0.05% from Rs 116.83, on turnover of Rs 202.96 crore 

• Tata Gold ETF (TATAGOLD): Rs 13.74, unchanged from Rs 13.74, on turnover of Rs 37.52 crore 

• SBI Gold ETF (SETFGOLD): Rs 120.55, up 0.02% from Rs 120.52, on turnover of Rs 13.96 crore 

• HDFC Gold ETF (HDFCGOLD): Rs 120.75, down 0.02% from Rs 120.78, on turnover of Rs 16.76 crore 

The near-flat readings across gold ETFs mirror the sideways action in spot gold prices, which have extended their two-session decline even as the pace of the fall has slowed considerably compared with Tuesday. 

Investors looking to diversify beyond physical gold can also explore the list of Gold ETFs in India: https://hdfcsky.com/etf/gold-etf 

Silver ETFs 

Silver ETFs saw steady buying across the board on Wednesday, with nearly all funds linked to the metal trading between 0.4 per cent and 0.6 per cent higher on the day. 

Among pure silver ETFs: 

• Nippon India Silver ETF (SILVERBEES): Rs 207.15, up 0.46% from Rs 206.20, on turnover of Rs 344.66 crore 

• Tata Silver ETF (TATSILV): Rs 21.06, up 0.57% from Rs 20.94, on turnover of Rs 54.78 crore 

• HDFC Silver ETF (HDFCSILVER): Rs 207.21, up 0.55% from Rs 206.08, on turnover of Rs 28.00 crore 

• SBI Silver ETF (SBISILVER): Rs 212.27, up 0.40% from Rs 211.43, on turnover of Rs 7.70 crore 

The uniformity of gains across silver ETF providers suggests the move was driven chiefly by price action in the underlying metal rather than fund-specific factors, a pattern consistent with silver’s tendency to track international bullion prices closely across all listed products. 

Investors looking to diversify beyond physical silver can also explore the list of Silver ETFs in India: https://hdfcsky.com/etf/silver-etf 

Contrasting Weekly Trend 

Wednesday’s session marks something of a reversal from the pattern seen earlier in July, when silver ETFs traded considerably more volatile than gold ETFs and saw sharper swings on both the upside and downside through the month. This week, silver’s steadier upward drift has come even as spot silver rates in the physical market have held largely flat nationally, pointing to a modest divergence between ETF-linked pricing and physical bullion trade. 

Safe-Haven Demand in Focus 

Buying in safe-haven assets including gold and silver has remained a persistent theme through July as the Iran-US conflict has kept geopolitical risk elevated, even as a fragile truce between Washington and Tehran has periodically eased the intensity of that demand. Silver’s higher day-to-day volatility continues to reflect its dual character as both a precious metal for investors and an industrial commodity used heavily in electronics and solar photovoltaic manufacturing, while gold remains viewed largely as a pure safe-haven asset. 

Year-on-Year Performance 

Both metals continue to show strong year-on-year gains despite the recent bout of choppiness. Nippon India Silver ETF (SILVERBEES) has climbed 89.09 per cent over the past 365 days, while Nippon India Gold ETF (GOLDBEES) is up 42.42 per cent over the same period, underscoring the scale of the safe-haven rally that has played out over the past year. SILVERBEES continues to trade well below its 52-week high of Rs 360.00, even after Wednesday’s uptick. 

Source

•  NSE