Gold-Silver ETFs Plunge Up to 14% After Record High: Buy the Dip?

• Gold and silver prices, along with their ETFs, experienced a sharp decline on January 30, with gold futures falling almost 5% and silver futures nearly 6%.
• This significant drop occurred after gold touched a new lifetime high of Rs 1,93,096, leading to declines across various Gold and Silver ETFs.
• Nippon India ETF Gold BeES fell by almost 10%, while HDFC Silver ETF and Nippon India Silver ETF saw declines of over 14%.
• Experts attribute the fall to speculation regarding the new US Federal Reserve chairman, a stronger dollar, and an "overbought" market.
• Despite the decline, experts advise investors to view this as a buying opportunity for long-term strategic investments, suggesting a 5-10% portfolio allocation to precious metals.

Why It Matters: Gold and silver ETFs saw a sharp decline, presenting a potential long-term buying opportunity for investors.