Gold ETFs Rise Nearly 2% Ahead Of Dhanteras 2026; Gold BeES, SBI Gold ETF And HDFC Gold ETF Gain As Global Gold Prices Rebound

Gold exchange-traded funds (ETFs) rose nearly 2% on Thursday, November 5, a day before Dhanteras, as international gold prices climbed to a two-week high following the US midterm election results. Nippon India ETF Gold BeES, SBI Gold ETF, HDFC Gold ETF and ICICI Prudential Gold ETF were among the funds trading higher during the morning session.

Nippon India ETF Gold BeES was up around 1.7% at ₹118.36 at 10:51 am, compared with Wednesday's close of ₹116.41. SBI Gold ETF was trading around ₹122.39 at 9:58 am, up about 1.9% from its previous close of ₹120.09.

HDFC Gold ETF and ICICI Prudential Gold ETF also gained around 1.8–1.9% in early trade, reflecting the recovery in bullion prices.

The gains come after a difficult October for gold ETFs, which had declined from their recent highs as gold prices corrected. However, the recovery over the past two sessions has helped some funds regain part of those losses.

Gold ETFs had already rallied on Wednesday, with Nippon India Gold BeES gaining 3.3%, HDFC Gold ETF rising 3.2% and SBI Gold ETF advancing 3.27%.

Gold BeES, SBI Gold ETF Extend Gains As Gold Hits Two-Week High

International gold prices rose sharply on Thursday as the US dollar weakened and Treasury yields declined following the US midterm elections.

Spot gold gained 1.6% to $4,123.71 per ounce by 6:09 am GMT, according to Reuters, after touching its highest level since October 20. Gold had risen around 3.4% on Wednesday, marking its biggest single-day gain since August 19.

US gold futures for December delivery also climbed 1.5% to $4,133 an ounce. The rise followed the Democratic Party's gains in the US midterm elections, which weakened the dollar and raised hopes of easing tensions in the Middle East.

Crude oil prices also fell sharply as investors assessed the possibility of diplomatic talks over Iran. Lower oil prices can ease inflation concerns and reduce pressure on central banks to keep interest rates high.

Gold generally benefits when the dollar and bond yields fall, as the metal does not offer interest income.

The recovery in global bullion prices was reflected in Indian gold ETFs, which invest mainly in physical gold and are traded on stock exchanges like shares.

Gold ETFs Recover After October Fall Ahead Of Dhanteras Buying

Nippon India Gold BeES, for instance, closed at ₹122.75 on October 9 before falling to ₹112.53 on November 2. The fund has since recovered, rising 3.3% on Wednesday and extending its gains on Thursday.

Despite the rebound, Gold BeES remains below its October levels and its 52-week high of ₹148.14.

Gold ETFs have drawn attention ahead of Dhanteras, which falls on November 6 this year. Unlike physical gold jewellery, gold ETFs can be bought and sold through stock exchanges without making charges or storage requirements associated with ornaments.

However, their market prices can differ slightly from the value of the underlying gold because of trading demand, liquidity and other costs.

Investors comparing gold ETFs also look at expense ratios, trading volumes and the difference between the ETF's market price and its indicative net asset value.

The next major trigger for gold prices will be the US non-farm payrolls report due on Friday, which could influence expectations about the Federal Reserve's interest rate policy.

For now, gold ETF prices are tracking the recovery in international bullion, with movements in the dollar, US bond yields and crude oil likely to remain important in the coming sessions.

Also Read - Rupee Today: Indian Currency Hits Two-Week High Against US Dollar As Crude Oil Falls Below $95 After US Midterm Elections