Nippon, HDFC, Kotak, SBI to ICICI Pru: How top gold and silver ETFs moved on US-Iran deal news

Data at the time of writing around 1.48 pm on Monday, June 15, shows that top gold ETFs by asset size were up 1.54% to 1.69%. Six largest silver ETFs by AUM were also up around 3.4% to 3.56%.

The following tables show how these gold and silver ETFs were performing at the time of writing today:

Gold ETF performance on June 15

Silver ETF performance on June 15

Ahead of the market opening on Monday, analysts expected gold and silver to trade higher during the day. Experts believe that a formal end of the war and opening of the Straight of Hormuz could ease global inflation fears and potentially soften the interest rate hike expectations from central banks. Both these factors could work in favour of the precious metals.

In a recent report, experts at Tata Mutual Fund said they expected a ±5% volatility in gold prices due to geopolitical developments. However, they said that the rupee depreciation could cushion the downside for Indian investors.

"Gold price may consolidate in the near term, amid mixed macro signals while some pressure may build up over rate hike expectations, a stronger dollar, and elevated bond yields. Short-term volatility of around ±5% is likely on Geopolitical developments, particularly around the US–Iran conflict.," Tata Mutual fund said.

On silver, they said it may continue to benefit from the dual advantage of being precious and industrial metal,

"Silver is a developing growth story, and the long-term trend is highly dependent on broad recovery in industrial demand., " Tata Mutual fund said.

Meanwhile, the World Gold Council recently said that any hike in the interest rate could potentially benefit gold prices.