Gold and silver ETFs reversed their strong August performance in September 2026 as domestic prices declined. How did the two commodity ETFs fare during the month, and which schemes saw relatively smaller declines? Here’s what the data shows.

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Gold and silver are two commodities that investors can access through exchange-traded funds (ETFs). Gold ETFs and silver ETFs allow investors to take exposure to these commodities without directly buying physical gold or silver.
But how did gold and silver ETFs perform in September 2026? And which ETFs saw relatively smaller declines during the month?
Which gold ETFs saw the smallest declines in September 2026?
| Gold ETFs | September 2026 return |
| The Wealth Company Gold ETF | -4.72% |
| Bandhan Gold ETF | -4.73% |
| Angel One Gold ETF | -4.74% |
| HSBC Gold ETF | -4.74% |
| Union Gold ETF | -4.74% |
*Source: Value Research, 1-month return
Gold ETFs track domestic gold prices. According to Value Research data, domestic gold prices declined 4.84% during September month, weighing on gold ETF returns.
Among gold ETFs, The Wealth Company Gold ETF recorded the smallest decline at 4.72%, followed by Bandhan Gold ETF at 4.73%. Angel One Gold ETF, HSBC Gold ETF and Union Gold ETF each fell 4.74%.
The September performance marked a sharp reversal from August, when all the gold ETFs had delivered more than 8% returns. But the decline was broad-based across gold ETFs, with every scheme in the category ending September in negative territory.




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