Gold, Silver ETFs Surge Up to 11% as Precious Metals Rebound; Silver Futures Cross Rs 2.6 Lakh/kg

• Gold and silver ETFs saw gains of up to 11% on February 9, mirroring a strong recovery in precious metals.
• Silver's March futures climbed above Rs 2.6 lakh per kilogram, while gold futures for April expiry rose by almost 2%.
• UTI Silver ETF advanced over 11%, and Nippon India Silver ETF increased by more than 10%, with other silver and gold ETFs also seeing significant gains.
• Recent market unwinding, increased margin requirements by CME Group, and the nomination of Kevin Warsh to the Fed Chair position contributed to previous volatility.
• Analysts predict long-term price stability for silver due to robust industrial demand and constrained supply, while gold remains a strategic hedge against inflation and geopolitical risks.