Silver ETFs Slide 4%, Gold ETFs Fall Over 2% as Bullion Prices Extend Global Decline

Silver ETFs Register Sharp Declines

Silver-focused ETFs saw significant losses during Thursday’s trading session.

Around 12:22 PM, Nippon India Silver ETF (SilverBeES) declined 4.22% to ₹204.34, while SBI Silver ETF fell 4.18% to ₹209.34. ICICI Prudential Silver ETF dropped 4.08% to ₹213.39, and Tata Silver ETF slipped 3.74% to ₹20.85.

The weakness mirrored the sharp correction in silver futures following sustained selling pressure earlier in the week.

Gold ETFs Trade Lower

Gold-backed ETFs also remained under pressure as bullion prices continued to weaken.

ICICI Prudential Gold ETF declined 2.11% to ₹110.02, SBI Gold ETF fell 2.12% to ₹118.67, Nippon India ETF Gold BeES slipped 2.03% to ₹115.17, while Tata Gold ETF lost 2.01% to trade at ₹13.57.

The decline reflected continued weakness in both domestic and international gold markets.

MCX Gold and Silver Prices Remain Weak

Precious metals futures on the Multi Commodity Exchange (MCX) also traded lower.

Gold futures for August delivery fell 0.16% to ₹1,41,220 per 10 grams during morning trade.

Silver futures declined 0.96% to ₹2,11,710 per kilogram.

Silver experienced heightened volatility during the opening session. The July futures contract initially dropped nearly ₹3,000 to around ₹2.10 lakh per kg before recovering above ₹2.15 lakh per kg. Despite the rebound, silver remained down by approximately ₹17,000 per kg over the first four trading sessions of the week.

Gold futures also opened lower, touching ₹1,40,543 per 10 grams before recovering toward ₹1,42,000. However, prices continued to trade roughly ₹5,200 below last Friday’s closing level.

Stronger Dollar and Rate Expectations Pressure Bullion

The correction in bullion prices has largely been driven by macroeconomic factors.

International spot gold recently fell below the $4,000-per-ounce level for the first time in seven months. A stronger US dollar and growing expectations that the US Federal Reserve may continue with higher interest rates have weighed on investor demand for non-yielding assets such as gold and silver.

Higher interest rates increase the opportunity cost of holding precious metals, while a stronger dollar makes gold and silver more expensive for international buyers, reducing global demand.

Investor Sentiment Remains Cautious

Market participants continue to monitor developments in the global macroeconomic environment, including central bank policy, inflation trends, and currency movements.

ETF investors have responded by trimming exposure to precious metals as expectations of prolonged higher interest rates continue to influence investment flows.

Conclusion

Gold and silver ETFs remained under pressure on June 25 as weakness in global bullion markets continued. Silver ETFs declined by nearly 4%, while gold ETFs lost more than 2%, reflecting softer MCX prices and continued pressure from a stronger US dollar and higher interest rate expectations. Investors are expected to closely monitor global economic data and central bank commentary for further direction in precious metal prices.

Summary

Gold and silver exchange-traded funds (ETFs) witnessed broad-based selling on June 25, 2026, tracking weakness in domestic and global bullion markets. Silver ETFs emerged as the biggest losers, falling by as much as 4%, while gold ETFs declined more than 2% after international gold prices slipped below the $4,000 per ounce mark. The correction comes amid a stronger US dollar and expectations of higher interest rates, which have reduced investor appetite for precious metals.