Gold and Silver ETFs Slide Together as IT Funds Rally and Defence ETFs Slip

Mumbai, Oct 21: Gold and silver exchange-traded funds (ETFs) fell together on Wednesday, with all 26 gold funds and all 19 silver funds trading lower. Gold lost slightly more on the day, but silver remains the bigger loser over the past month. Information technology (IT) ETFs were the standout, with all 10 higher, while defence and bank ETFs slipped. The broader market stayed soft, with NiftyBeES (NIFTYBEES) down 0.28 per cent at Rs 260.48, and 288 of the 356 ETFs on the exchange list were lower. 

Gold and silver drew the most money outside liquid funds. GoldBeES (GOLDBEES) and SilverBeES (SILVERBEES) were the two most traded ETFs after LiquidBeES (LIQUIDBEES), with Rs 162.87 crore and Rs 156.50 crore changing hands. Gold ETFs fell between 0.96 and 1.78 per cent, while silver ETFs fell between 1.02 and 1.57 per cent. 

Silver ETFs extend a heavy month 

SilverBeES slipped 1.19 per cent to Rs 195.09 from Rs 197.44. Tata Silver ETF (TATSILV) eased 1.10 per cent to Rs 19.85 on Rs 41.36 crore of traded value, and HDFC Silver ETF (HDFCSILVER) lost 1.13 per cent to Rs 195.00. SilverIETF (SILVERIETF) fell 1.28 per cent to Rs 203.69. The sharpest fall was 1.57 per cent in SILVER001, while Edelweiss Silver ETF (ESILVER) was the mildest at 1.02 per cent. 

The trend matters more than the one-day move. SilverBeES is down 11.88 per cent over 30 days and trades about 46 per cent below its 52-week high of Rs 360, though it is still up 32.67 per cent over one year. Every silver ETF is down between 11.24 and 12.07 per cent over 30 days, a sign of how closely these funds track the metal. Together, the 19 silver funds traded about Rs 284 crore. 

Gold ETFs ease, with a softer month behind them 

GoldBeES, the largest gold ETF by traded value, lost 1.39 per cent to Rs 118.16. Tata Gold ETF (TATAGOLD) fell 1.35 per cent to Rs 13.90, GoldIETF (GOLDIETF) lost 1.47 per cent to Rs 122.38, HDFC Gold ETF (HDFCGOLD) shed 1.40 per cent to Rs 122.16 and SETFGOLD slipped 1.37 per cent to Rs 121.88. IVZINGOLD fell the most at 1.78 per cent, while HSBCGOLD was the mildest at 0.96 per cent. 

Gold has been steadier than silver. GoldBeES is down 5.26 per cent over 30 days, less than half the silver fall, and sits about 20 per cent below its 52-week high of Rs 148.14. Its one-year gain of 13.97 per cent is well short of silver’s 32.67 per cent. 

Bank ETFs lower, PSU funds hold up better 

All 14 ETFs tracking the Nifty Bank index fell, by between 0.46 and 1.63 per cent. BankBeES (BANKBEES) lost 0.95 per cent to Rs 570.49 on Rs 20.62 crore of traded value. Private bank funds were weak too, with PVTBANIETF down 0.87 per cent at Rs 27.28. The eight PSU bank funds fared better, losing between 0.06 and 0.43 per cent, with PSUBNKBEES down 0.23 per cent at Rs 92.18. 

IT ETFs rally 

All 10 IT ETFs gained between 1.97 and 2.74 per cent. ITBeES (ITBEES), the most traded at Rs 67.99 crore, rose 2.23 per cent to Rs 35.71, and ITIETF added 2.72 per cent to Rs 35.88. ITAxis (ITAXIS) rose the most at 2.74 per cent. ITBeES is up 9.36 per cent over 30 days but still down 9.46 per cent over one year and about 19 per cent below its 52-week high of Rs 44.27. 

Defence ETFs give up ground 

All three defence ETFs lost more than 2 per cent. Nifty India Defence ETF by Motilal Oswal (MODEFENCE) fell 2.19 per cent to Rs 97.65, Groww’s defence ETF (GROWWDEFNC) slipped 2.24 per cent to Rs 89.03, and the BSE India Defence ETF (DEFENCE) lost 2.30 per cent to Rs 74.49. Combined traded value was only about Rs 7 crore, so the moves should be read with that in mind. 

ETF Snapshot: Silver, Gold, Bank, IT, Defence 

Source

•  https://www.nseindia.com/market-data/exchange-traded-funds-etf
• Gold and silver ETFs fell together, with silver far weaker over 30 days
• IT ETFs rallied, and bank and defence ETFs slipped.