These gold and silver ETFs accounted for 55% of trading turnover during Diwali week

Nippon India Mutual Fund’s Gold and Silver exchange-traded funds (ETFs) together accounted for around 55% of the average daily turnover in the two categories on the National Stock Exchange (NSE) during the Diwali period, according to NSE data cited by the fund house.

Between November 6 and November 11, the two ETFs recorded a combined average daily turnover of around ₹806 crore, against the total industry turnover of ₹1,468 crore.

Nippon India ETF Gold BeES recorded an average daily turnover of ₹442.7 crore, accounting for 54% of the total Gold ETF turnover of ₹825 crore during the period. The remaining Gold ETFs together recorded an average daily turnover of ₹382.3 crore.

In the Silver ETF category, Nippon India Silver ETF reported an average daily turnover of ₹363.8 crore, accounting for 57% of the industry’s total turnover of ₹642.9 crore. Other Silver ETFs together recorded an average daily turnover of ₹279.1 crore.

The data reflects trading activity in Gold and Silver ETFs during the six-day period. Average daily turnover measures the value of units traded on the exchange and is different from net inflows into a scheme or changes in its assets under management.

Gold and Silver ETFs allow investors to take exposure to the prices of the precious metals through exchange-traded units held in demat accounts. Unlike physical gold and silver, these investments do not require investors to arrange for storage, while transactions are carried out through stock exchanges during market hours.