Gold, Silver ETFs Rally Across The Board on Thursday, Track Firmer Bullion Prices

Mumbai, Sept 3: Gold and silver exchange-traded funds rallied sharply across the board on the domestic bourses on Thursday, with every listed precious-metals ETF trading firmly higher as global bullion prices pushed higher through the session. Trading was still underway at the time of writing, with silver funds leading the charge as several gained more than 2.5 per cent, while gold-linked ETFs also posted broad gains of close to 2 per cent or more. Nippon India’s SILVERBEES and GOLDBEES, the two largest precious-metals ETFs by traded value on the exchanges, both climbed more than 2 per cent through the morning session. 

Silver ETFs 

Among silver ETFs, Nippon India’s SILVERBEES, the largest fund in the category by traded value, surged 2.4 per cent. Tata Silver ETF (TATSILV) climbed 2.47 per cent, ICICI Prudential’s SILVERIETF advanced 2.07 per cent, and HDFC Silver ETF (HDFCSILVER) added 2.52 per cent. The physical-price-linked SILVER contract rose 2.28 per cent, while SBI Silver ETF (SBISILVER) gained 2.4 per cent, UTI Silver ETF (SILVERBETA) climbed 2.54 per cent, and Mirae Asset’s SILVERAG advanced 2.4 per cent. Zerodha’s SILVERCASE and its liquid counterpart GROWWSLVR both rose 2.54 per cent, Kotak Silver ETF (SILVER1) gained 2.33 per cent, and DSP Silver ETF (SILVERADD) climbed 2.53 per cent. Axis Silver ETF (SILVERAXIS) and Edelweiss Silver ETF (ESILVER) rounded out the gainers, up 2.46 per cent and 2.44 per cent respectively, with not a single silver ETF trading in the red through the session. 

Gold ETFs 

Gold ETFs mirrored the strength, with gains running slightly milder than silver but still broad-based. Nippon India’s GOLDBEES, the largest gold ETF by traded value, rose 2.21 per cent, while Axis Gold ETF (GOLDAXIS) climbed 2.5 per cent and Tata Gold ETF (TATAGOLD) advanced 2.06 per cent. Mirae Asset’s GOLDETF gained 1.86 per cent, HDFC Gold ETF (HDFCGOLD) added 2.01 per cent, and ICICI Prudential’s GOLDIETF climbed 2.37 per cent. SBI’s SETFGOLD rose 2.2 per cent, Zerodha’s GOLDCASE gained 2.21 per cent, and DSP’s GOLDADD ETF advanced 2.34 per cent. Aditya Birla Sun Life’s BSLGOLDETF climbed 1.89 per cent, Baroda BNP Paribas Gold ETF (BBNPPGOLD) rose 2.59 per cent, one of the steeper gains in the category, and Zerodha’s GROWWGOLD added 2.33 per cent. As with silver, every gold-linked fund tracked on the exchanges traded higher through the session, underscoring the breadth of Thursday’s rally. 

Broad-Based Gains Across The Board 

Thursday’s rally stands out for its uniformity: unlike sessions where gains are concentrated in a handful of large funds, every gold and silver ETF tracked on the exchanges advanced, with silver funds broadly outperforming gold by 30 to 50 basis points. Smaller, less-traded silver funds such as SILVERBND and MOSILVER, which track the domestic physical price, rose 2.67 per cent and 2.39 per cent respectively, in line with the moves in the more heavily traded funds. Dealers attributed the strength to a weaker dollar and renewed haven demand, alongside expectations of further monetary easing by the US Federal Reserve, both of which have historically supported bullion prices. Gold and silver ETFs are also up sharply over the past 30 days, with GOLDBEES higher by more than 5 per cent and SILVERBEES up over 4 per cent in that window, suggesting Thursday’s advance extends a strong run for the category rather than marking an isolated spike. 

Outlook 

With the session still underway, traders said the next few hours, along with cues from international spot gold and silver prices and the US dollar index, will determine whether Thursday’s gains hold into the close. The scale and breadth of the advance suggests renewed investor appetite for precious metals as a hedge, dealers said, though they cautioned that a single strong session should not be read as confirmation of a fresh, sustained uptrend. Retail investors watching from the sidelines may see the across-the-board gains as validation of the metals’ longer-term uptrend, with both gold and silver ETFs comfortably higher over the past year even after accounting for recent bouts of volatility. 

Investors who are looking to diversify beyond physical gold and silver can also explore the list of Gold ETFs and Silver ETFs in India, which track gold and silver prices without the need to store physical metal: https://hdfcsky.com/etf/gold-etf and https://hdfcsky.com/etf/silver-etf 

Source

• NSE
• https://www.nseindia.com/market-data/exchange-traded-funds-etf