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Silver ETFs jumped over 6% while gold ETFs gained 2% after the US Supreme Court struck down Trump-era tariffs, weakening the dollar and boosting safe-haven demand. Explore detailed analysis of bullion trends, ETF performance, and market outlook.
Silver ETFs rallied more than 6% while gold ETFs advanced over 2% after the US Supreme Court struck down broad Trump-era tariffs, weakening the dollar and triggering strong safe-haven flows into precious metals. The move reflects renewed investor interest in bullion-backed exchange-traded funds amid rising geopolitical and trade uncertainty.
Precious metal exchange-traded funds (ETFs) witnessed a sharp rally on Monday, tracking gains in global bullion prices as macroeconomic uncertainty intensified. The trigger came after the United States Supreme Court struck down a broad set of tariffs imposed during the Trump administration, a development that pressured the US dollar and reignited demand for traditional safe-haven assets such as gold and silver.
Silver ETFs led the rally, outperforming gold ETFs significantly, as investors rotated into higher-beta precious metal plays amid expectations of sustained dollar weakness.
Silver ETFs recorded gains exceeding 6%, reflecting both safe-haven buying and silver’s dual role as an industrial and monetary metal.
| ETF | Price (₹) | Gain (%) |
|---|---|---|
| Nippon India Silver ETF | 250.96 | +6.06% |
| Tata Silver ETF | 25.46 | +6.17% |
| SBI Silver ETF | 256.78 | +6.09% |
| ICICI Prudential Silver ETF | 261.76 | +6.05% |
The sharp move suggests strong inflows into bullion-backed products as traders priced in weaker US trade protectionism and a softer dollar outlook.
Silver often exhibits amplified moves compared to gold due to:
Gold ETFs recorded more moderate but still notable gains of around 2%, reflecting broad-based safe-haven allocation.
| ETF | Price (₹) | Gain (%) |
|---|---|---|
| Nippon India Gold BeES | 130.18 | +2.07% |
| Tata Gold ETF | 15.24 | +2.01% |
| SBI Gold ETF | 134.22 | +2.05% |
| ICICI Prudential Gold ETF | 134.84 | +2.03% |
Gold’s move was relatively contained compared to silver, highlighting the metal’s traditional role as a stability anchor rather than a high-beta momentum trade.
The US Supreme Court’s decision to strike down broad tariff measures significantly altered expectations around global trade dynamics.
| Trigger | Market Impact |
|---|---|
| Tariff reversal | Reduced trade friction expectations |
| Dollar weakness | Cheaper bullion for global buyers |
| Risk uncertainty | Safe-haven inflows |
| Policy recalibration | Volatility spike in currencies |
When the dollar weakens, gold and silver typically rise because:
Silver tends to outperform gold during:
Gold, on the other hand, performs strongest during:
The 6% surge in silver ETFs suggests both speculative participation and industrial metal optimism alongside safe-haven flows.
Precious metal ETFs provide:
In volatile macro conditions, ETFs become the fastest channel for capital deployment into commodities.
On the MCX, underlying bullion prices also climbed sharply, reinforcing ETF momentum.
Historically, periods of tariff uncertainty and currency weakness have supported multi-week rallies in gold and silver.
| Factor | Why It Matters |
|---|---|
| Dollar Index Movement | Direct correlation to bullion prices |
| US Federal Reserve stance | Rate expectations influence gold |
| Geopolitical developments | Safe-haven demand catalyst |
| ETF inflow data | Momentum sustainability indicator |
If dollar weakness persists and geopolitical uncertainty remains elevated, ETF flows into precious metals could continue.
Silver’s sharp breakout suggests momentum-driven flows, but such rapid spikes often invite short-term profit booking. Gold’s steadier 2% rise indicates institutional accumulation rather than speculative surge.
A sustained move would require:
The 6% surge in silver ETFs and 2% rise in gold ETFs reflect a classic macro response: weakening dollar plus policy uncertainty equals safe-haven demand.
Silver’s outperformance highlights increased investor appetite for higher volatility precious metal exposure, while gold remains the portfolio stabilizer.
As global macro conditions remain fluid, precious metals are likely to stay in focus — particularly if currency volatility and geopolitical risks intensify.
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