Gold has regained its shine once again in global markets. On February 9, the Indian stock market witnessed a noticeable jump in gold and silver ETF prices. Just last week, both metals had dipped, nudged down by a strong US dollar. But this week began on a different note, with spot market prices climbing back, and the ETFs reflecting that shift
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Silver ETFs outperform gold on Monday
On Monday morning, silver ETFs saw massive growth, even surpassing gold ETFs in gains. Analysts attribute this upward trend to a slight decline in the dollar’s value and a “buy-the-dip” sentiment among investors.
All silver ETFs recorded gains since the market opened, with jumps ranging from 9 to 12 per cent. Tata Silver ETF rose by around 9 per cent by 2 PM, while Axis Silver ETF saw nearly 12 per cent growth. Other silver ETFs also delivered strong returns. Gold ETFs saw positive returns as well, although the increase was comparatively modest.
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Spot prices reflect international market trends
On the same day, spot silver prices in the international market increased by 2.5 per cent, while MCX silver prices rose by 6 per cent. Gold prices also moved up by 2 per cent, confirming the trend across global and domestic markets.
{News Ei Samay does not provide investment advice anywhere. Investment and trading in the share market or any field involve risk. Proper study and expert advice are recommended beforehand. This news is published for educational and awareness purposes.}
