Amid heightened volatility in global gold and silver prices, the National Stock Exchange of India Limited has issued a special trading update for Gold and Silver Exchange Traded Funds. As per Circular No. 79/2026 dated 1 February 2026, the reference price for all Gold and Silver ETFs for the trading session on 2 February 2026 will be anchored to the T-1 closing price, i.e., the closing price as on 1 February 2026. Based on this revised reference price, a uniform trading price band of ±20% will apply for the day. This temporary change in price band methodology is aimed at ensuring orderly trading and managing excessive price fluctuations arising from sharp movements in the underlying bullion markets. Trading members have been advised to take note of this one-day adjustment, which is applicable only for the trading session on 2 February 2026.
National Stock Exchange of India Limited
Circular
| Department: SURVEILLANCE | |
| Download Ref No: NSE/SURV/72566 | Date: February 01, 2026 |
| Circular Ref. No: 79/2026 | |
To All NSE Members,
Sub: Exchange Traded Funds (ETFs) – Update
This is with reference to NSE circular no. NSE/SURV/19758 dated January 05, 2012 and NSE/SURV/72554 dated February 01, 2026. In view of the volatility in underlying Gold & Silver prices, Reference Price for Gold and Silver ETFs traded on the Exchange shall be based on the Closing Price of the respective ETF as on T-1 day, i.e. February 01, 2026 for T day i.e. February 02, 2026.
Accordingly, the prescribed price band of +/- 20% shall be applicable to the said closing price (of February 01, 2026) of the respective ETF for trading on February 02, 2026. This change in methodology is applicable for tomorrow’s trading session i.e. February 02, 2026.
Trading Members are requested to take note of the same.
*****
In case of any further queries, you may write to us at surveillance@nse.co.in.
For National Stock Exchange of India Limited
Mayank Rathod
Chief Manager
Surveillance
Author Bio
