Silver-linked exchange traded funds in India extended their sharp rally on Tuesday, tracking a strong surge in global silver prices, with most ETFs rising around 5% in a single session as spot silver crossed the $90 per ounce mark.
Among the top performers, Aditya Birla Sun Life Silver ETF climbed 5.01% to trade at Rs 273.27, while Nippon India Silver ETF (SILVERBEES) also gained 5.01% to Rs 262.00. ICICI Prudential Silver ETF advanced 4.85% to Rs 273.40, and Zerodha Silver ETF (SILVERCASE) jumped 5.06% to Rs 27.82, reflecting broad-based buying interest across silver-backed instruments.
The sharp move in Indian silver ETFs mirrored strength in international markets, where COMEX silver continuous contracts surged over 4% to around $90.11 per ounce, hitting fresh record highs. The rally has been supported by easing US inflation data, rising expectations of Federal Reserve rate cuts later this year, and continued safe-haven demand amid global macroeconomic and geopolitical uncertainties.
Silver ETFs in India have also benefited from strong domestic participation, as investors seek exposure to the precious metal without holding physical silver. The recent rally has pushed silver-related instruments sharply higher on a year-to-date basis, with silver gaining over 25% in just nine trading sessions of January, marking one of its strongest starts to a calendar year.
With global silver prices remaining volatile but elevated, Indian silver ETFs are likely to stay in focus in the near term, closely tracking movements in international bullion markets and evolving global monetary policy cues.
