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Gold, silver ETFs jump up to 11% as precious metals rebound; silver’s March futures rise above Rs 2.6 lakh/kg
Gold, silver ETFs jump up to 11% as precious metals rebound; silver’s March futures rise above Rs 2.6 lakh/kg
Gold and silver exchange traded funds (ETF) surged in trade on February 9, tracking the sharp rebound seen in the precious metals, which have seen significant volatility in recent days.
Gold futures with April expiry jumped nearly 2 percent to trade at Rs 1,58,500 per 10 grams in the morning trading hours of Monday. The contracts with June expiry also jumped around 2 percent.
Silver futures with March expiry meanwhile jumped around 6 percent to trade at Rs 2,64,885 per kilogram. The contracts with May expiry gained nearly 4 percent.
UTI Silver ETF gained more than 11 percent to trade at Rs 252.08 apiece, while Nippon India Silver ETF (Silver bees) jumped more than 10 percent to Rs 247 apiece. HDFC Silver ETF, Tata Silver ETF and others gained more than 10 percent each.
Zerodha Silver ETF, SBI Silver ETF, Aditya Birla Sun Life Silver ETF, DSP Silver ETF, Kotak Silver ETF, Groww Silver ETF and ICICI Prudential Silver ETF were up nearly 8 percent each, while Mirae Asset Silver ETF, 360 ONE Silver ETF, Axis Silver ETF, Motilal Oswal Silver ETF and others were up around 7 percent each, as seen at 9.30 am.
Among the gold ETFs, Union Gold ETF and Angel One Gold ETF jumped more than 3 percent each, while 360 ONE Gold ETF, LIC MF Gold ETF, Kotak Gold ETF, Motilal Oswal Gold ETF, Nippon India Gold ETF and SBI Gold ETF gained around 3 percent each.
Zerodha Gold ETF, HDFC Gold ETF, Axis Mutual Fund Gold ETF, UTI MF Gold ETF and others gained more than 2 percent each.
A dramatic unwind which hit gold and silver markets recently, erased a chunk of their record breaking January gains. The plunge began after CME Group hiked margin requirements on both metals, forcing leveraged traders to liquidate positions and accelerating a wave of selling. In additions, the selloff intensified as markets digested that US President Donald Trump nominated Kevin Warsh—viewed as a hawkish, dollar supportive choice—as the next Federal Reserve Chair. The shift revived expectations of tighter policy and triggered a sharp rebound in the U.S. dollar, which is negative for precious metals.
Silver has had an extraordinary run in 2025, surging roughly 50–60%+ year-to-date on industrial demand, supply deficits, and safe-haven flows.
“Markets often see sharp corrections after such extended rallies. Broader risk sentiment and geopolitical cues can prompt profit booking in commodities, especially where positioning has been crowded,” said Nirpendra Yadav, Senior Commodity Research Analyst at Bonanza.
Industrial demand for silver remains strong and tight supply environment and deficits persist globally, which supports price stability over the medium-to-long run despite volatility, the analyst added. He explained that a sharp fall in silver on intraday basis does not shape the long-term view.
Ross Maxwell, Global Strategy Operations Lead at VT Markets that the trade deal between India and US can lead to a shift towards increasing trade engagement which can improve risk appetite, ease supply-chain frictions, and reduce inflationary pressures linked to tariffs. “In relation to this announcement, gold and silver prices will be looking to balance between lower trade tensions and persistent macro uncertainty. A clearer trade outlook can reduce risk aversion, which will limit upside moves in precious metals,” he said.
“Gold remains well supported by ongoing concerns around inflation, currency stability, and geopolitical risks, keeping it attractive as a strategic hedge rather than a short-term trade,” Maxwell said.
Source: Msn.com
Source: OfficeNewz
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