A weak session for the precious metals. Gold and Silver prices moved lower across both domestic and global markets. On MCX, gold futures were at Rs 1,38,265.00 per 10 grams, down 0.71%. Silver Futures were at Rs 2,19,300 per kilogram, down 2.61%.
On COMEX, gold futures traded at $4,377.4 per troy ounce, lower by $29.9 or 0.68%. Silver futures were at $68.530 per troy ounce, down $0.825 or 1.19%.
The weakness in futures came even as ETF prices showed gains linked to underlying NAV movements.
Jigar Trivedi, Senior Research Analyst at Indusind Securities said, “Gold fell toward $4,300/oz, staying under pressure amid heightened Middle East tensions as Iran denied holding talks with the US to end the conflict. Tehran dismissed President Donald Trump’s announcement as an attempt to influence financial markets and launched new attacks on US targets, while Israel continued strikes against Iran. On Monday, gold had staged a sharp intraday rebound after Trump postponed planned US strikes on Iranian energy infrastructure and claimed negotiations were underway.”
Trivedi added, “The outcome of any talks and the potential reopening of the Strait of Hormuz remain highly uncertain, keeping inflation risks elevated. Gold had dropped as much as 25% from its March peak as rising energy prices fueled inflation concerns and bolstered expectations of interest rate hikes. MCX Gold April futures may drop to Rs 137,500/10g as prices are trading with a negative undertone in world markets.”
Silver ETF
Tata Silver Exchange Traded Fund traded at Rs 20.85 with a gain of 5.62%, while Nippon India Silver ETF stood at Rs 205.05 up 5.96% and Groww Silver ETF at Rs 20.97 higher by 6.07%.
Zerodha Silver ETF was at Rs 21.77 rising 6.87%, HDFC Silver ETF at Rs 205.19 up 6.94% and ICICI Prudential Silver ETF at Rs 213.10 gaining 6.29%.
SBI Silver ETF traded at Rs 209.96 with a rise of 7.02%, Kotak Silver ETF at Rs 20.77 up 7.01% and Angel One Silver ETF at Rs 8.26 higher by 3.38%.
Aditya Birla Sun Life Silver ETF stood at Rs 213.31 up 5.88%, Axis Silver ETF at Rs 213.02 gaining 6.62% and UTI Silver ETF at Rs 207.30 rising 7.52%.
Mirae Asset Silver ETF was at Rs 208.88 up 5.43%, DSP Silver ETF at Rs 206.33 gaining 7.33% and 360 ONE Silver ETF at Rs 210.72 higher by 2.81%.
Bandhan Silver ETF traded at Rs 214.70 up 6.80%, Motilal Oswal Silver ETF at Rs 210.86 rising 5.98% and Edelweiss Silver ETF at Rs 214.33 gaining 4.71% .
Gold ETF
Tata Gold Exchange Traded Fund traded at Rs 13.41 with a gain of 2.60%, while Nippon India ETF Gold BeES stood at Rs 114.28 up 3.22% and Groww Gold ETF at Rs 13.49 higher by 3.13%.
ICICI Prudential Gold ETF was at Rs 117.90 rising 3.89%, Zerodha Gold ETF at Rs 21.74 up 2.98% and SBI Gold Exchange Traded Scheme at Rs 117.51 gaining 3.33%.
HDFC Gold ETF traded at Rs 117.84 with a rise of 3.45%, Angel One Gold ETF at Rs 12.88 up 2.47% and Axis Gold ETF at Rs 114.85 higher by 4.15%.
Kotak Gold ETF stood at Rs 114.86 up 3.26%, UTI Gold ETF at Rs 116.10 rising 2.29% and Mirae Asset Gold ETF at Rs 133.86 gaining 2.38%.
LIC MF Gold ETF traded at Rs 124.45 up 2.77%, Birla Sun Life Gold ETF at Rs 120.97 rising 2.68% and Motilal Oswal Gold ETF at Rs 136.50 higher by 3.17%.
DSP Gold ETF was at Rs 133.73 gaining 3.34%, Quantum Gold Fund ETF at Rs 114.15 up 3.33% and Edelweiss Gold ETF at Rs 137.65 rising 2.61%.
Bandhan Gold ETF traded at Rs 137.68 up 3.64%, Baroda BNP Paribas Gold ETF at Rs 132.65 gaining 2.47% and The Wealth Company Gold ETF at Rs 137.33 higher by 1.94%.
Union Gold ETF stood at Rs 135.00 up 2.90%, Choice Gold ETF at Rs 137.00 rising 2.61%, Invesco India Gold ETF at Rs 11,980.30 gaining 3.63% and 360 ONE Gold ETF at Rs 134.40 higher by 3.07% .
Futures prices on MCX and COMEX showed clear weakness during the session, with both gold and silver trading lower in their respective units.
At the same time, ETF prices held firm with gains across most funds, pointing to steady domestic tracking and demand despite the dip in global and futures markets.
