Silver ETFs Gain Up to 6% on 4 November as Silver Prices Rebound

Key Takeaways

• Indian silver exchange-traded funds recorded gains of up to 6% during trading on November 4, 2026.
• International silver prices recovered by more than 4%, moving above $50 per troy ounce during the session.
• ETF returns can differ from movements in underlying silver prices because of tracking differences, expenses and market trading conditions.

Silver ETFs Record Sharp Gains on November 4

Silver exchange-traded funds (ETFs) listed in India advanced by as much as 6% on Wednesday, November 4, 2026, as international silver prices recovered from their recent decline.

The underlying metal rose more than 4% during the session and moved back above $50 per troy ounce.

The recovery followed a period of weakness in international precious-metal markets.

According to the reported market snapshot, 14 of the 19 silver ETFs tracked recorded gains of up to 6%, while the remaining five rose by around 5%.

The figures represent movements observed during the trading session rather than independently verified final closing returns for every scheme.

Silver ETF Performance on November 4

Several fund houses recorded increases in their silver-linked exchange-traded products.

The group included silver ETFs managed by Nippon India Mutual Fund, Tata Mutual Fund, HDFC Mutual Fund, Kotak Mutual Fund, Axis Mutual Fund and Mirae Asset Mutual Fund.

Other products, including silver ETFs operated by Zerodha, Edelweiss, Bandhan and Quant, also participated in the recovery.

The reported increases were associated with the rebound in the underlying commodity, although individual ETF performance varied.

International Silver Prices Recover

Silver prices moved higher amid changes in global financial-market conditions following the United States midterm elections.

The metal's recovery also coincided with movements in the US dollar and bond yields, factors that can influence international precious-metal prices.

Silver has both financial investment and industrial applications, making its market price sensitive to developments affecting monetary conditions, manufacturing demand and global economic activity.

Its recent trading pattern has included sharp price movements in both directions.

How Silver ETFs Track the Underlying Metal

Silver ETFs seek to reflect movements in the domestic price of silver, subject to their investment mandates and associated costs.

Their net asset values are influenced by changes in underlying silver prices, currency movements and scheme expenses.

However, exchange-traded unit prices can temporarily differ from published NAVs because ETF units are bought and sold in the secondary market.

Liquidity, bid-ask spreads and tracking differences can also affect observed trading returns.

Consequently, the reported rise of more than 4% in international silver prices should not be treated as an identical percentage increase across all Indian silver ETFs.

The November 4 session illustrates the sensitivity of silver-linked mutual fund products to changes in commodity prices and global market conditions.