Investors withdrew nearly ₹3,000 crore from gold and silver ETFs in May as prices retreated from record highs, triggering profit booking and portfolio reallocation
In the international market, Gold fell on Wednesday, as oil prices rose on renewed hostilities between the US and Iran, fuelling concerns about inflation and interest rate hikes.
Analysts at Kedia Stocks and Commodities Research expect Silver prices to fall to $48.60 levels in the bear-case scenario. On the upside, they expect prices to zoom up to $170 in the next bull cycle.
In the international market, spot gold fell 0.2 per cent to $4,319.09 per ounce on rising fears of a US rate hike after a strong jobs report, while renewed hostilities in West Asia
Penetration slowing as equities turn volatile, gold rally loses steam
Active equity schemes added around 1.5 million investment accounts, or folios, during the February-April 2026 period
MFs eye further clarity, expect physical silver supply constraints if demand shoots up
As of May 13, combined AUM of gold and silver ETFs stood at ₹2.9 trn, up about 12% so far this month
Gold and silver ETFs jumped up to 7% after the government raised import duties on precious metals, triggering a sharp repricing in India's domestic bullion market
The government imposed a 10 per cent basic customs duty along with a 5 per cent Agriculture Infrastructure and Development Cess (AIDC), aiming to curb imports of the previous metals
MCX Silver opened with a slight gap up and is trading within the ₹280,000-₹282,000 zone, sustaining well above the ascending trendline as bullish momentum builds
Equity performance and gold ETF demand helped Nippon, HDFC, ICICI Pru, and Tata widen lead
Silver recovery is being driven by ceasefire optimism that is keeping the oil prices capped. Safe-haven flows seem to be largely absent
In the international market, spot gold was up 2.5 per cent at $4,819.25 per ounce. Similarly, spot silver also jumped 5.5 per cent to $76.91 per ounce
Gold and silver ETFs were in demand in the week's first trading session, rising over 2% as safe-haven buying surged amid West Asia tensions
Gold April futures on the MCX traded higher by 3.78 per cent at ₹1,44,370 per 10 gm, while silver May futures gained 5.54 per cent to ₹2,36,338 per kg
Nearly 3 million accounts added at peak, just before prices reversed
Silver prices nosedived to hit their lower circuit in futures trade on Monday, tumbling by Rs 20,409 to Rs 2.06 lakh per kilogram amid weak global trends and sustained selling pressure. On the Multi Commodity Exchange, silver for May delivery slumped Rs 20,409, or 9 per cent, to Rs 2,06,363 per kilogram, its lower circuit limit. Analysts said the sharp fall came despite escalating tensions in West Asia, as broader macroeconomic factors weighed heavily on precious metal prices. Silver prices have fallen sharply on Monday despite escalating West Asian tensions due to overriding macroeconomic pressures, Hareesh V, Head of Commodity Research, Geojit Investments Ltd, said. He added that a strong US dollar and rising Treasury bond yields have weakened bullion by increasing holding costs and making dollar-denominated metals more expensive for global buyers. In the international market, silver futures on the Comex for the May contract declined by USD 6.51, 9.34 per cent, to USD 63.15 per
Broader market sentiment was also fragile on Monday as the war in West Asia entered its fourth week with no clear resolution in sight
Silver, like gold, remains under acute downside pressure as hardening yields and fading rate-cut expectations reflect central banks' heightened vigilance against the spectre of inflation.