Gold, Silver ETFs Fall; Bank Funds Extend Losses

Mumbai, Sept 24: Indian Gold ETFs & Silver ETFs are trading lower today. As of writing none of the 26 gold etfs and 19 silver ETFs listed on exchanges are in positive territory. A stronger US Dollar and higher yields on US Treasury bonds has weighed on gold prices today. Bank ETFs are also in negative territory with all the 36 ETFs trading lower. Most Bank ETFs are declining at a faster pace than the Nifty 50 index. IT ETFs seem to be resilient and trading near flat levels. Liquid funds are trading flat as is typical of them. The Sensex and Nifty are lower by about 1 percent. Crude Oil is trading at higher levels. FPI’s continue to sell Indian stocks and Iran stated that they wont allow any country to transit through Strait of Hormuz freely.  

Gold and silver prices declined after US private sector jobs came in above expectations which pushed US Treasury bond yields higher. The US 10 year treasury bond is trading at 5.11 percent. Crude oil is trading at around 102 dollars per barrel. Gold traded below 4280 dollars per ounce and Silver dropped to about 63.8 dollars in early Asian sessions. Both metals had fallen by 1.14 percent and 2.75 percent respectively on Wednesday.  

Gold ETFs Decline  

All 26 gold ETFs are trading lower. The highest traded Gold ETF by traded value is GoldBeES which declined by 0.57 percent to last trade price of Rs. 124.02. It traded a volume worth Rs. 139.49 Crores today. HDFC Gold ETF declined by 0.57 percent to last trade price of Rs. 128.21. TATAGOLD is down by 0.61 percent to Rs. 14.58. GoldIETF is lower by 0.61 percent at Rs. 128.42. SETFGOLD is lower by 0.56 percent to Rs. 127.92. TWCGOLDETF was the worst performer today. It fell by 1.19 percent to Rs. 148.72. It was very lightly traded with only 500 units traded today. GoldBeES has lost 6.23 percent over the past 30 days but is up by 31.12 percent over the past year.  

Check out the list of Gold ETFs in India if you wish to invest in Gold prices but dont want to buy physical Gold: https://hdfcsky.com/etf/gold-etf  

Silver ETFs Decline by More Than Gold ETFs  

All the 19 Silver ETFs are in negative territory. Most of the Silver ETFs are down by about 1.2 percent today which is almost twice what the gold ETFs have fallen. SilverBeES is the highest traded by value of Rs. 200.77 Crores and it is down by 1.16 percent at Rs. 217.70. Tata Silver ETF or TATSILV was the most actively traded silver ETF with 2.29 Crore units traded. It is down by 1.21 percent to Rs. 22.10. HDFC Silver ETF is down by 1.19 percent to Rs. 217.50 and SBISILVER is down by 1.20 percent to Rs. 223.08. Silver ETFs traded Rs. 385.51 Crores which is more than gold ETFs. SilverBeES is down by 4.98 percent over the past 30 days but is up by 69.77 percent over the past year.  

Check out the list of Silver ETFs in India if you wish to invest in Silver prices but dont want to buy physical Silver: https://hdfcsky.com/etf/silver-etf  

IT ETFs Trade Near Flat  

IT ETFs are trading flat which is impressive considering how the rest of the ETFs have been performing today. 4 IT ETFs are trading higher while 5 are trading lower and 1 is flat. ITBeES was the highest traded ETF by Rs. 13.19 Crores and it is marginally lower by 0.03 percent to Rs. 31.46. ITIETF is up by 0.22 percent to Rs. 31.55. HDFC Nifty IT ETF is up by 0.10 percent to Rs. 30.29. The lower IT ETFs are ITAXIS which is down by 0.51 percent to Rs. 312.04 and SBIETFIT which is down by 0.17 percent to Rs. 314.06. NiftyBeES which tracks the Nifty 50 index is lower by 1.07 percent. IT ETFs have been performing poorly over a longer time period as well. ITBeES is down by 7.22 percent over the past 30 days.  

Bank ETFs Trade Lower  

All the Bank ETFs are trading lower today. Out of the 36 bank ETFs 27 of them are down at a faster rate than the Nifty 50. BANKBEES was the highest traded by value of Rs. 24.43 Crores. It is lower by 1.43 percent to Rs. 577.18. SBI ETF Private Bank or SBIETFPB is down by 1.90 percent to Rs. 275.15. PVTBANIETF is down by 1.63 percent to Rs. 27.20. All the 8 private Bank ETFs are down between 1.63 percent to 3.67 percent today. PVTBKGROWW was the lowest trading Bank ETF today at Rs. 27.00. TNIDETF is down by 2.04 percent. PSU bank ETFs are holding up better. PSU Bank BeES is down by 0.87 percent to Rs. 92.38 and PSUBANK is down by 0.56 percent to Rs. 82.94. Crude oil prices at higher levels and foreign outflow from Indian stocks are hurting these banks.

Liquid ETFs Remain Unchanged  

As always Liquid ETFs have remained unchanged today. Out of the 20 Liquid ETFs 13 are marginally higher and 7 are flat. None of the Liquid ETFs are in negative territory. LiquidBeES was the highest traded Liquid fund by Rs. 97.72 Crores. It remained unchanged at Rs. 1,000.00. LiquidCase is up by 0.02 percent to Rs. 116.06. GROWWLIQID is up by 0.02 percent to Rs. 110.88. Liquid1 is up by 0.01 percent to Rs. 1,123.96. All the Liquid ETFs traded Rs. 270.92 Crores which is almost 4 times what Bank ETFs traded today at Rs. 70.38 Crores.  

ETF Snapshot: Gold, Silver, IT, Bank, Liquid 

Source

• https://www.nseindia.com/market-data/exchange-traded-funds-etf 

Gold and silver ETFs declined on higher US bond yields and US dollar. Banks declined along with the overall market.  IT ETFs remained resilient while Liquid ETFs remained unchanged as usual.