Gold and silver exchange-traded funds (ETFs) witnessed sharp declines on Friday as weakness in global precious metal prices triggered heavy selling across the sector. While gold ETFs fell by around 2–2.5 per cent, silver ETFs suffered even steeper losses, dropping more than 5 per cent in early trade.
MCX gold and silver prices opened sharply lower on June 19 as traders reacted to the US Federal Reserve's hawkish stance, easing geopolitical tensions in the Middle East, and growing expectations of higher interest rates.
