According to NSE data, Silver ETFs have crashed up to 53% from their respective 52-week highs hit in January 2026, while Gold ETFs have declined up to 26% in the same period.
HDFC Silver ETF was down 2.7 per cent, Tata Silver ETF, SBI Silver ETF, Kotak Silver ETF, UTI Silver ETF, Axis Silver ETF, Mirae Asset Silver ETF, and DSP Silver ETF were down over 2 per cent.
Barring P N Gadgil Jewellers, all the jewellery stocks in the comparison have gained year-to-date (YTD), with Tribhovandas Bhimji Zaveri (TBZ) emerging as the top performer
Gold ETF inflows rose to about ₹4,500 crore, among the highest in recent times, which reflects a steady, allocation-led approach to commodities amid global uncertainty.
Analysts believe the bullion rose as the US Fed rate hike is largely discounted by the market. Meanwhile, a fall in oil prices for the third straight day softened inflation concerns.
North American demand, according to the report, was relatively modest early in the month before accelerating sharply during the week of 17 August when funds added roughly $4 billion.
Despite the recent decline in Gold ETFs, experts are advising investors to gradually increase their exposure. Gold ETFs can deliver healthy returns over the long term
Gold and Silver ETFs dipped 1% in Wednesday's trade due to a fall in precious metal prices. Analysts say gold is falling as fears of higher-for-longer US interest rate environment strengthened the US$