{
  "id": 3863205,
  "title": "Gold, silver ETFs slide up to 2% on import duty cut expectations",
  "url": "https://urgent.news/2026/08/28/gold-silver-etfs-slide-up-to-2-on-import-duty-cut-expectations",
  "topic": "business",
  "section": "Business",
  "published": "2026-08-28T01:09:43.000Z",
  "source": {
    "name": "The Economic Times - Top News",
    "slug": "the-economic-times-top-news",
    "url": "https://economictimes.indiatimes.com/mf/analysis/investors-panic-as-india-hints-at-import-duty-cut-sending-gold-and-silver-etfs-plummeting/articleshow/133580901.cms"
  },
  "original_language": "en",
  "account": "Mumbai: Gold and silver exchange-traded funds (ETFs) plunged up to 2% on Thursday, despite precious metal prices remaining relatively stable, as investors factored in the potential reduction of import duties by the government, which would lower domestic gold and silver prices. Gold ETFs saw a decline ranging from 1.3% to 2.3% at the market's close, while silver ETFs slipped by 1.2% to 2.3%. Internationally, gold was hovering at $4,594 per ounce, while silver had a marginal gain of 0.1% to $68.18 per ounce. The gap between Indian and global gold and silver prices, and their corresponding ETFs, stemmed from market expectations of a possible duty cut, said Anindya Banerjee, Kotak Securities' head of currency & commodity research. Even a partial reduction from the current 15% duty could negatively impact domestic prices, leading to selling pressure overnight and on Thursday. As a result, gold ETFs, including the largest Nippon India ETF Gold BeES, which gained 9.6% this year, dropped 1.75%. Similarly, Nippon India Silver ETF, which has risen 6.3% this year, fell 1.6%. Apurva Sheth, head of research at Samco Securities, noted that import duties were imposed a few months ago due to currency weakness, and with the situation improving, the government might reconsider lifting them.",
  "summary": "Exchange-traded funds for gold and silver experienced marked declines on Thursday, even as global precious metal prices held steady. Anticipation surrounding a potential cut in government import duties on these commodities has emerged, which could lower their costs in India. This speculation is driving increased selling activity in domestic ETFs.",
  "key_points": [
    "Gold and silver ETFs dropped up to 2% on Thursday",
    "Investors anticipated potential import duty reduction",
    "Domestic prices could fall with duty cut, causing selling pressure"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}