- Silver ETFs surged nearly 6% amid Middle East tensions and rising crude prices
- Tata Silver ETF rose 5.88% to Rs 25.92, leading silver ETF gains
- Gold ETFs posted modest gains, with ICICI Prudential Gold ETF up 1.26%
Silver ETFs surged nearly 6% higher, whereas Gold ETFs showed marginal gains, tracking the widening geopolitical tensions in the Middle East, and the rising crude prices.
Among the top gainers, Tata Silver ETF rose 5.88 percent to Rs 25.92, Nippon India Silver ETF climbed 5.75 percent to Rs 255.76, ICICI Prudential Silver ETF advanced 5.67 percent to Rs 265.97, and HDFC Silver ETF gained 5.76 percent.
Gold ETFs also saw healthy gains, though relatively lower than silver funds. ICICI Prudential Gold ETF rose 1.26 percent. SBI Gold ETF gained 1.20 percent, Nippon India ETF Gold BeES climbed 1.21 percent and Tata Gold ETF added 1.31 percent.
Spot silver was little changed after surging more than 7% on Monday, following a report on the liquidity crisis of a state-owned oil firm in Peru. The country is one of the biggest silver producers, as per a Bloomberg report. The metal jumped the most in more than a month as technical signals attracted new buying, including from hedge funds and other leveraged investors that had stayed on the sidelines in recent weeks, according to analysts., reported by Bloomberg.
Reuters also reported that the global silver market is in a deficit, with the projected widening at 46.3 million ounces in 2026. This is higher than 40.3 million ounces in 2025. The report also suggested that while total demand is expected to drop by 2%, physical investment demand is forecast to grow by 20%, hitting a three-year high.
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