Silver and gold ETFs rallied up to 6% on Wednesday as gold and silver prices opened sharply higher on the Multi Commodity Exchange of India (MCX), tracking gains in global bullion markets after U.S. President Donald Trump agreed to a two-week ceasefire with Iran, easing concerns over energy-driven inflation.

Kotak Silver ETF and ICICI Prudential Silver ETF rallied up to 6% each. Nippon India Silver ETF, SBI Silver ETF, HDFC Silver ETF went up 5% respectively whereas Edelweiss Silver ETF gained 4% to hit its day’s high of Rs 240.04.

ICICI Prudential Gold ETF went up 4% to its day’s high of Rs 131.12 against previous close of Rs 126.22. Five gold ETFs i.e. Nippon India ETF Gold BEeS, Kotak Silver ETF, HDFC Silver ETF, SBI Silver ETF, and Edelweiss Silver ETF gained 3% each.

Anup Bhaiya Founder Money Honey Wealth Services Ltd shared with ETMutualFunds that on Tuesday, gold steadied near $4,650–$4,680 while silver held firm around $72–$74 amid ongoing macro adjustments.