Silver ETF, Gold ETF Rally: Nippon India Gold BeES, Tata, Axis, To ICICI; ETFs Surge Up to 6% in a Single Day

Silver ETF, Gold ETF Rally: The sharp surge in gold and silver prices on Thursday has fuelled the prices of exchange-traded funds (ETFs) tracking these two precious commodities. Nippon India ETF Gold BeES, Tata Gold ETF, ICICI Prudential Silver ETF, SBI Silver ETF, Groww Gold ETF, Nippon India Silver ETF, Zerodha Gold ETF, UTI Silver ETF, etc surged nearly 9% during Thursday's intraday trade.

The sharp surge in silver ETFs and gold ETFs is driven by precious metals' safe-haven rally amid rising geopolitical tensions, and weakening dollar.

Silver ETFs Price Rally

Nippon India Silver ETF was up around 5.17%, Tata Silver ETF was up close to 4%, ICICI Prudential Silver ETF was up around 4.32%, and Groww Silver ETF was up close to 5.67% during Thursday's intraday trading session.

Gold ETFs Price Rally

Nippon India ETF Gold BeES was up around 6.18%, Tata Gold ETF was up around 6.73%, ICICI Prudential Gold ETF was up around 6.45%, and Groww Gold ETF was trading 6% higher during Thursday's intraday trading session.

Why Silver, Gold ETF Prices Are Rising Today? Future Outlook

Silver and gold ETFs prices reflect the movement in the domest and international commodities market. Gold futures on Multi Commodity Exchange (MCX), with March expiry, touched a lifetime high of Rs 1,87,462 per 10 gram on Thursday. Meanwhile, Silver futures (with March expiry) touched a lifetime high of Rs 4,08,800 per kilogram today.

As gold and silver prices created fresh all-time high mark on Thursday, several experts have revised their target price for the metals. Tracking the bullish momentum in both the metals, ETFs prices can also rally in the coming days.

"Assessing gold price movements based on the past may no longer work as we believe the world is witnessing a once in a century phenomenon and therefore gold could head much higher in the next 2 years, possibly crossing 8000 USD by 2027," noted Sandip Raichura,CEO of Retail Broking and Distribution & Director, PL Capital.

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