Gold ETFs crash 16% amid dollar strengthening, silver ETFs follow suit. What should investors do?
Gold and silver extended their steep selloff on MCX, with futures sliding 6% and gold ETFs crashing up to 16% as a surging US dollar and profit-taking hit sentiment. In the previous session, silver plunged as much as 27% (Rs 1,07,968), marking its biggest single-day crash ever and pulling prices back below the Rs 3 lakh mark—just a day after the metal had surged to a record high of Rs 4 lakh.
Gold and silver extended their steep selloff on MCX, with futures sliding 6% and gold ETFs crashing up to 16% as a surging US dollar and profit-taking hit sentiment. In the previous session, silver plunged as much as 27% (Rs 1,07,968), marking its biggest single-day crash ever and pulling prices back below the Rs 3 lakh mark—just a day after the metal had surged to a record high of Rs 4 lakh.
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