Gold, Silver ETFs Rise Up To 11% As Precious Metals Rebound On February 9

Gold and silver exchange-traded funds surged on February 9 after domestic futures prices of both precious metals rebounded sharply following recent volatility, according to data from the Multi-Commodity Exchange of India. Silver futures for March delivery climbed above ₹2.6 lakh per kg, while gold futures advanced nearly 2% in morning trade.

Gold futures with April expiry were trading around ₹1,58,500 per 10 grams during early hours on Monday, up nearly 2% from the previous close, as per MCX data. Gold contracts for June delivery also posted gains of about 2% during the session.

Silver futures for March expiry rose around 6% to trade at ₹2,64,885 per kg, while May contracts gained close to 4%, according to MCX price data recorded around 9:30 am.

Silver ETFs Record Sharp Gains

Silver exchange-traded funds reflected the sharp rise in futures prices. UTI Silver ETF and Nippon India Silver ETF gained more than 10% in early trade, while HDFC Silver ETF, Tata Silver ETF, and several other silver-linked funds advanced in a similar range, according to data available on the National Stock Exchange.

Other silver ETFs, including those managed by SBI Mutual Fund, Aditya Birla Sun Life Mutual Fund, DSP Mutual Fund, Kotak Mutual Fund, Groww Mutual Fund, ICICI Prudential Mutual Fund, Axis Mutual Fund, Motilal Oswal Mutual Fund, and Mirae Asset Mutual Fund, posted gains ranging between 7% and 9% during the session.

Gold ETFs Track Futures Recovery

Gold exchange-traded funds also moved higher in line with futures prices. Union Gold ETF and Angel One Gold ETF rose over 3%, while gold ETFs from Nippon India Mutual Fund, SBI Mutual Fund, Kotak Mutual Fund, LIC Mutual Fund, Motilal Oswal Mutual Fund, and 360 ONE Mutual Fund gained around 3%, according to exchange data.

Gold ETFs from HDFC Mutual Fund, Axis Mutual Fund, UTI Mutual Fund, and Zerodha Fund House recorded gains of over 2% in early trade.

Recent Changes in Precious Metals Prices

According to data from international commodity exchanges, gold and silver prices have changed a lot in recent sessions because of changes in margin requirements announced by CME Group and changes in the value of the U.S. dollar. Earlier drops had taken away some of the gains made in January.

As of February 9, domestic futures prices reflected a rebound in both metals, with ETF prices adjusting accordingly based on underlying asset movements, as per MCX and NSE data.