Gold, silver ETFs crash up to 8% as US Fed rate hike expectations climb. What should investors do?
Gold and silver ETFs fell nearly 8% on Monday as gold and silver prices opened sharply lower on the Multi Commodity Exchange (MCX), extending their losses for a fourth consecutive session. The sell-off came after US Federal Reserve Chair Kevin Warsh’s comments raised expectations of higher interest rates.
Gold ETF price
Out of 26 gold ETFs, Aditya Birla Sun Life Gold ETF slipped 8% to the day’s low of Rs 129.11, followed by Quantum Gold ETF, which fell 5%. Nippon India ETF Gold BeES, the largest gold ETF based on assets managed, fell 4% to its day’s low of Rs 126.08.
Gold ETF price
Out of 26 gold ETFs, Aditya Birla Sun Life Gold ETF slipped 8% to the day’s low of Rs 129.11, followed by Quantum Gold ETF, which fell 5%. Nippon India ETF Gold BeES, the largest gold ETF based on assets managed, fell 4% to its day’s low of Rs 126.08.
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