Silver, gold ETFs surge up to 5% as Mideast conflict fuels safe-haven demand. What should investors do?

Silver and gold ETFs rose up to 5% on Thursday as escalating tensions in the Middle East kept demand for safe-haven assets strong. Further, the prices were also supported by a weaker US dollar, which made bullion more attractive for investors holding other currencies.

Tata Gold ETF gained the most by 5% to hit the day’s high of Rs 16.45, followed by Zerodha Gold ETF, which went up 3%. Nippon India Gold ETF, Angel One Gold ETF, 360 One Gold ETF, and The Wealth Company Gold ETF surged 2% each, while the other ETFs in the category gained 1% or remained flat.

Zerodha Silver ETF jumped the most by around 3% to hit the day’s high of Rs 27.88. Kotak Silver ETF, 360 One Silver ETF, and Angel One Silver ETF gained 2% each, followed by Mirae Asset Silver ETF, which went up 1%, while the other ETFs in the category were flat.


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On Thursday, the Indian rupee opened 0.63% stronger at 91.57 per US dollar on Thursday, compared with its previous close of 92.15.

Abhishek Bhilwaria, BhilwariaMF, AMFI registered MFD shared with ETMutualFunds that in the current market environment of March 2026, mutual fund investors are encouraged to prioritise long-term stability over short-term gains by maintaining strict SIP discipline to benefit from rupee-cost averaging during periods of volatility.

Bhilwaria further said that strategic success currently hinges on rebalancing portfolios to align with target asset allocations, specifically by favouring resilient large-cap and flexi-cap funds while utilising gold as a defensive hedge against global uncertainty.

MCX Gold futures due April 2026 were up by over Rs 1,600 or 1% to Rs 1,63,142 per 10 grams. Meanwhile, silver futures for May 2026 delivery soared by Rs 8,700 or 3.2% to Rs 2,74,251 per kg.

In the international market, gold prices advanced on Thursday. Spot gold rose 0.8% to $5,177.26 per ounce as of 0249 GMT, while US gold futures for April delivery gained 1% to $5,186.40. Meanwhile, spot silver also moved higher, climbing 1.3% to $84.50 per ounce.

Manoj Kumar Jain of Prithvi Finmart said that both gold and silver are witnessing extremely high price volatility. He noted that precious metals are likely to remain volatile this week amid fluctuations in the dollar index, the ongoing US–Iran conflict, and ahead of the upcoming US jobs data release.

Also Read | How should mutual fund investors think about their portfolios amid the US-Israel conflict with Iran?

Jain advised investors to consider booking profits at higher levels and avoid fresh buying at elevated prices, unless gold sustains above Rs 1,64,400 and silver holds above Rs 2,78,000.

For the near term, gold has support in the $5,080–$5,034 range and resistance at $5,220–$5,280 per troy ounce. Silver, meanwhile, has support at $80.80–$76.60 and resistance at $86.40–$90.00 per troy ounce in the current session, said Jain.