Market Insights
Data-driven analysis on gold, silver, ETFs, and institutional positioning — for Indian investors.
War Is Raging. So Why Is Gold Falling? The Real Reason Gold Dropped 14% During the US-Iran Conflict
Gold just posted its worst week in 15 years — during an active war. MCX gold fell ₹15,000 per 10 grams in three weeks. Silver dropped ₹30,000 per kilogram. If gold is a safe haven, why is it selling off? The answer reveals something every Indian gold investor needs to understand about how gold actually behaves.
Silver Vaults Are Draining. What COMEX Inventory Data Is Telling Us Right Now
COMEX registered silver stocks have fallen over 55% since September 2025. Physical silver is leaving vaults at a pace of 20 million ounces per month. This is not noise — it is a signal. Here is what the vault data means and why Indian silver investors should be paying attention.
De-Dollarisation and Gold: Why the World Is Quietly Abandoning the Dollar — and Buying Gold Instead
In August 2025, global central bank gold holdings overtook US Treasury securities in total value for the first time in modern history. The dollar's share of global reserves has fallen from 71% in 1999 to 58.5% in 2026. This is not a conspiracy theory. It is a structural monetary shift — and it is one of the most powerful long-term drivers of gold's bull market.
De-Dollarisation and Silver: Russia Just Did Something No Central Bank Has Done in Decades
In 2025, Russia formally added silver to its state reserves — the first major central bank to publicly do so in the modern era. A BRICS precious metals trading platform has been announced. Saudi sovereign wealth is entering the silver market. De-dollarisation was always a gold story. It is quietly becoming a silver story too — and most Indian investors have not noticed yet.
Every EV Sold Uses 3x More Silver Than a Petrol Car. Here Is Why That Changes Everything for Silver Investors
Silver industrial demand hit a record 680.5 million ounces in 2024. EVs and solar panels are the reason — and neither demand is slowing. The silver market has been in deficit for five consecutive years. Here is the full picture, including what it means for Indian silver ETF investors tracking the MCX silver rate.
The Fed and Gold: Why Every Interest Rate Decision in Washington Moves Your Gold Price in India
When the US Federal Reserve held rates on March 18, 2026, gold fell ₹12,000 per 10 grams in a week. When the Fed cut rates three times in late 2025, gold surged 64% for the year. This relationship is the single most important macro signal for gold investors — and Makro tracks every moving piece of it.
The Fed and Silver: Why Silver Reacts Even More Violently to Rate Decisions Than Gold
When the Fed cut rates in December 2025, silver exploded to an all-time high of $62.89 per ounce — up 113% for the year, outpacing even gold's 59% gain. When the Fed delivered a hawkish hold on March 18, 2026, silver crashed harder than gold, falling toward $73 within days. Silver's relationship with Fed policy is the same as gold's — but amplified. Here is why, and what it means for Indian silver investors.
Gold ETF Premium and Discount to iNAV — The Buying Signal Most Indian Investors Miss
When a gold ETF trades below its actual gold value, you are buying gold at a discount. When it trades above, you are overpaying. Most investors never check. Here is what iNAV means, why it moves, and how Makro tracks it live across all 42+ gold ETFs on NSE.
Gold as a Safe Haven — Does It Always Work? A Data-Driven Look for Indian Investors
Gold's reputation as the ultimate crisis asset is earned — but not unconditional. There are specific conditions under which gold thrives as a safe haven, and others where it disappoints. Here is what the data actually shows, and how Makro's sentiment analysis helps Indian investors navigate both.
Physical Gold vs Gold ETF vs Digital Gold: The Complete Cost, Tax, and Returns Guide for Indian Investors in 2026
On a ₹10 lakh gold investment, choosing the wrong format costs you anywhere from ₹44,000 to ₹87,000 in hidden charges — before taxes. Physical gold, ETFs, and digital gold each have a completely different cost structure, tax treatment, and risk profile. Here is the full picture, including what most comparison guides get wrong about iNAV premiums.