Silver‑linked Shares Gain Momentum
In Tuesday’s opening trade, Indian stocks tied to the white metal saw a modest uptick. Hindustan Zinc rose 1.59% to ₹598.50, Vedanta climbed 1.21% to ₹271.25, and NMDC edged higher by 0.66% to ₹84.40.
Silver Price Drives the Rally
The lift in shares mirrored a 1.02% rise in the domestic silver price, which stood at ₹2,447.00 per ounce. Globally, spot silver increased 1% to $66.88 an ounce, keeping the metal above the $60 threshold that many analysts consider a key support level.
Geojit’s Outlook on Silver
Geojit, a brokerage noted for its commodity commentary, highlighted that silver is likely to extend its upticks as long as prices remain above $60. The firm also flagged intraday volatility as a possibility. For futures, Geojit identified a resistance level at ₹2,53,000; clearing this mark could trigger a fresh rally.
Gold and Copper Movements
Gold, priced in US dollars, edged up 0.7% to $4,434.02 an ounce. The rise was partly attributed to a weaker dollar against the yen, making bullion priced in dollars more attractive to buyers.
Copper continued its upward trajectory, touching a record high of $14,617 per tonne on the London Metal Exchange for the second consecutive session. The metal’s year‑to‑date gain of around 17% is underpinned by tight near‑term supplies and expectations of US tariffs on refined copper imports. Demand from data centres, renewable‑energy equipment and power grids also supports the price.
Bottom Line
Silver‑linked Indian equities benefited from a global silver rally that kept the metal above a critical $60 support level. Geojit’s analysis suggests that sustained prices above this mark could fuel further gains, provided the resistance at ₹2,53,000 is breached. Meanwhile, copper’s record highs and gold’s modest rise add to a broader commodities backdrop that could influence market sentiment in the coming days.