Gold, Silver ETFs Surge Up to 9% as Precious Metals Rebound: What's Next?

• Gold and silver ETFs saw significant gains, up to 9%, on February 4, extending a rebound after an earlier crash.
• Despite the surge, precious metals and their ETFs have not yet reached their late January lifetime highs.
• Gold futures (April expiry) on MCX jumped over 4.5% to Rs 1,60,755 per 10 grams; silver futures (March expiry) rose 6% to Rs 2,84,094 per kilogram.
• Various gold and silver ETFs, including Tata Silver ETF, Edelweiss Silver ETF, and The Wealth Company Gold ETF, recorded gains between 4% and 9%.
• Analysts predict a moderately bullish trend for gold and silver this week, citing technical pullbacks and expectations of US Federal Reserve rate cuts.

Why It Matters: Gold and silver ETFs rebounded significantly, with analysts forecasting a moderately bullish trend amid rate cut expectations.