On Thursday, Aug 20, Indian investors saw a sharp rise in precious‑metal ETFs, with silver leading the rally. The gains reflected a broader global surge in bullion prices after U.S. Treasury yields fell and the dollar weakened.
Tata Silver ETF jumped 4.23 % to Rs 22.89, while Nippon India Silver ETF and SBI Silver ETF each rose 4.05 % to Rs 225.20 and Rs 230.75 respectively. ICICI Prudential Silver ETF added 3.87 % to reach Rs 234.95.
Gold ETFs also climbed, though at a slower pace. ICICI Prudential Gold ETF climbed 2.40 % to Rs 133.31. Nippon India ETF Gold BeES and SBI Gold ETF each gained 2.35 % to Rs 128.68 and Rs 132.79. Tata Gold ETF was up 2.23 % at Rs 15.10.
The rally was triggered by a U.S. Treasury announcement that longer‑dated debt would see increased buybacks. The move pushed Treasury yields lower, reduced the opportunity cost of holding gold, and pushed the dollar down.
Spot gold reached $4,525.79 an ounce earlier in the session, its highest since early June, before easing toward $4,500 as traders took profits. Silver stayed above $67 an ounce, having gained more than 5 % on Wednesday.
Domestic futures followed the trend. MCX gold October futures were up 0.33 % at Rs 1,58,521 per 10 grams, while MCX silver September futures gained 1.29 % to Rs 2,39,850 per kg.
The ETF gains came as the broader Indian equity market also moved higher. At 10:03 am, the Sensex was up 550 points (0.72 %) at 77,459.75, and the Nifty 50 gained 127.5 points (0.53 %) to 24,205.80.
Overall, the day showed how global bond and currency movements can quickly translate into gains for Indian precious‑metal investors, with silver leading the way ahead of gold.