Edelweiss, SBI, ABSL Silver ETFs Drop Up to 8% as MCX Silver Slides Sharply

Gold and silver exchange-traded funds (ETFs) started the session with sharp declines on February 6, following weakness in domestic MCX contracts and global COMEX prices. The fall was mainly due to profit booking after a strong rally and a broader correction in precious metals.

Silver Prices See Steep Fall

MCX Silver futures dropped over 4% to around ₹2,33,204 per kg, while global COMEX silver prices declined nearly 6%.

Gold prices also slipped in both domestic and international markets, though the decline was smaller compared to silver.

Silver ETFs Record Broad Sell-Off

Most silver ETFs fell between 5% and 8% in early trading.

• Edelweiss Silver ETF dropped about 8%.
• SBI Silver ETF and Aditya Birla Sun Life Silver ETF declined over 7%.
• ETFs from Kotak, HDFC, UTI, Zerodha, ICICI Prudential, Motilal Oswal, Nippon India, DSP, Tata, Groww, Axis, and Mirae Asset also recorded notable losses in a similar range.

The sharp decline reflected the high sensitivity of silver ETFs to falling metal prices.

Read More: Check Gold and Silver Prices on Feb 6, 2026, Across Delhi, Mumbai, and Bangalore Here! 

Gold ETFs Also Trade in the Red

Gold ETFs opened lower as well, but losses were smaller than silver ETFs.

Funds from Motilal Oswal, ICICI Prudential, UTI, Groww, Birla Sun Life, DSP, Edelweiss, Mirae Asset, Tata, Axis, and others declined roughly 2% to 4.5%.

Market Trend and Investor Sentiment

The correction shows synchronised weakness in global and domestic precious metal markets.

Silver ETFs remain more volatile due to the sharper fall in silver prices, while gold ETFs continue to show relative stability because of their safe-haven appeal.

Conclusion

The sharp drop in silver prices triggered a broad sell-off in silver ETFs, with gold ETFs also declining but holding up better. Future movement will depend on global metal price trends and investor demand for safe-haven assets.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.