Silver ETFs, Feb. 4 -- The past few weeks have been among the most dramatic periods for precious metals in recent memory. A strong, conviction-led rally in gold and silver turned speculative - particularly in silver - before abruptly reversing into a sharp selloff that erased gains and exposed fragile liquidity conditions. Silver ETFs mirrored this volatility.

Silver prices on MCX rebounded 6% in intra-day deals today, extending gains from the previous session as value buying emerged after a steep correction that had dragged prices down more than 46% from peak levels within three sessions. Gold too continued its recovery.

MCX silver jumped 6% to an intraday high of Rs.2,84,094 per kg, while MCX gold rose 3% to Rs.1,58,420 per 10 gram. I...