On Thursday, gold and silver ETFs experienced notable declines, with the HDFC Silver ETF dropping by 4% to a low of Rs 217.37, down from Rs 225.62 the previous day. Other silver ETFs, including those from Nippon India and SBI, also fell by 3% each, while Kotak Gold ETF decreased by 3% to Rs 121.12. The decline in precious metals is linked to a rise in Brent crude prices, which surged over 4%, alongside increases in the 10-year U.S. Treasury yield and the dollar index, creating downward pressure on gold prices. Spot silver prices fell by 3% to $72.95 per ounce, while MCX silver futures for May 2026 dropped 5.5% to Rs 2,29,888 per kg. Gold futures for June 2026 also fell by 1.6% to Rs 1,51,161 per 10 grams. Analysts suggest that investors should consider booking profits during rallies and refrain from opening new long positions, especially in light of the ongoing U.S.-Iran tensions and upcoming long weekends.