Indian Gold, Silver ETFs drop as precious metal prices fall

Major Indian Gold Exchange Traded Funds (ETFs) and Silver ETFs were down more than 10%, after a drop in price of precious metals

Global gold XAU= and silver pricesXAG= fell sharply after U.S. President Donald Trump announced his choice for Fed chair

Fall in their prices dragged down Indian precious-metal ETFs, which closely track underlying bullion price
ICICI Prudential Gold ETF IPEG.NS was down 14%, with HDFC GOLD ETF HDGO.NS dropping 11.5%

SBI Gold ETF SBIG.NS and Nippon India Gold ETFGBES.NS were down around 10% each

Nippon India Silver ETF NIPS.NS was down 12%, while Tata Silver ETF TATR.NS and ICICI Prudential Silver ETF IICD.NS fell 10% each

Most of these ETFs rose between 50% to over 100% in 2025 amid rally in the precious metal prices