Gold and silver ETFs gain on easing Iran US tensions
Business
Gold and silver ETFs got a boost this Wednesday, thanks to hopes that Iran-US tensions might ease.
A weaker dollar also played its part: gold prices nudged up, while silver dipped just a bit.
With inflation rising (blame it on pricier fuel and gold), long-term investors are seeing these funds as a smart place to park their money.
ICICI Prudential Silver ETF gains 6%
ICICI Prudential Silver ETF topped the charts with a 6% gain, while other big names like Nippon India, SBI, HDFC, and Kotak's silver ETFs climbed 5%.
Gold ETFs weren't far behind: Nippon India ETF Gold BEeS and ICICI Prudential Gold ETF both rose 4%.
Experts say this kind of market is perfect for starting systematic investment plans (SIPs), which can help steady your portfolio even when things get bumpy.