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Gold and Silver ETFs Slide as Rising Oil Prices and Stronger Dollar Weigh on Bullion
Gold and silver exchange-traded funds (ETFs) declined sharply as precious metal prices came under pressure from rising crude oil prices, a stronger US dollar, and expectations of prolonged higher interest rates. The selloff followed renewed geopolitical tensions involving the US and Iran, which boosted inflation concerns and reduced investor appetite for bullion.
By Finblage Editorial Desk
11:51 am
10 June 2026
Gold and silver exchange-traded funds (ETFs) witnessed significant declines on Wednesday, tracking weakness in global precious metal prices amid rising crude oil prices, a strengthening US dollar, and concerns that interest rates may remain elevated for a longer period.
Gold ETFs fell more than 3 percent during morning trade. Nippon India Gold BeES (GOLDBEES) declined 3.1 percent to Rs 121.54, while ICICI Prudential Gold ETF (GOLDIETF) dropped 3.3 percent to Rs 125.69. SBI Gold ETF (SETFGOLD) fell 3.2 percent to Rs 125.33 and Tata Gold ETF (TATAGOLD) was down 2.9 percent at Rs 14.29.
Silver ETFs recorded even steeper losses, with most schemes falling close to 5 percent. SBI Silver ETF (SBISILVER) declined 4.8 percent to Rs 226.08, Nippon India Silver ETF (SILVERBEES) fell 4.8 percent to Rs 220.89, ICICI Prudential Silver ETF (SILVERIETF) dropped 4.7 percent to Rs 230.82, and Tata Silver ETF (TATSILV) slipped 4.8 percent to Rs 22.42.
The correction in ETF prices reflected weakness in international bullion markets. Gold prices fell after geopolitical developments triggered a rise in oil prices and strengthened the US dollar. Higher energy prices raised concerns over inflation, leading investors to reassess expectations of monetary easing by major central banks, including the US Federal Reserve.
A stronger dollar further weighed on precious metals by making gold and silver more expensive for buyers using other currencies, reducing demand for bullion. The prospect of higher-for-longer interest rates also diminished the appeal of non-yielding assets such as gold and silver.
Domestic bullion prices mirrored global trends. In Delhi, 24-carat gold was priced at Rs 1,49,630 per 10 grams, while silver traded at Rs 2,35,520 per kilogram.
The decline in precious metal-linked ETFs occurred despite positive sentiment in Indian equities, with benchmark indices trading higher during the session. However, the broader market gains failed to offset the pressure on gold and silver investment products, which continued to track the correction in underlying metal prices.
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This article is compiled from publicly available information, including company disclosures, stock exchange filings, regulatory announcements, and reports from global and domestic financial publications. The content has been editorially reviewed and enhanced by the Finblage Editorial Desk for clarity and investor awareness purposes only.
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