Gold-Silver ETFs Soar Up to 17% After Crash, Set New Records on Geopolitical Tensions

• Gold and Silver ETFs witnessed a significant recovery, surging up to 17% on January 23, following a sharp decline the previous day.
• The rally pushed gold and silver prices to new all-time highs in both domestic futures markets (MCX) and international markets (COMEX).
• Key drivers for the surge include persistent US-Europe tensions, a weakening US dollar, increased demand for safe-haven assets, and diminished confidence in Europe.
• Gold futures on MCX reached a record Rs 1,59,226 per 10 grams, while silver futures hit Rs 3,39,927 per kg.
• Various Gold and Silver ETFs, including 360 ONE Silver ETF (over 10% jump) and Tata Silver ETF (9% jump), saw substantial gains.

Why It Matters: Gold and silver ETFs rebounded strongly, setting new records due to global geopolitical uncertainties and a weak dollar.