Silver, gold ETFs tumble up to 8% as strong dollar and rate hike fears weigh on prices. What should investors do?
Silver and gold ETFs plunged up to 8% on Thursday as precious metal prices extended losses for a second straight session on the MCX. The decline was driven by a stronger US dollar and rising expectations of US Federal Reserve rate hikes later this year. Silver ETFs led losses, with Tata Silver ETF falling the most, followed by broad-based declines across funds.
Silver and gold ETFs plunged up to 8% on Thursday as precious metal prices extended losses for a second straight session on the MCX. The decline was driven by a stronger US dollar and rising expectations of US Federal Reserve rate hikes later this year. Silver ETFs led losses, with Tata Silver ETF falling the most, followed by broad-based declines across funds.
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