Hindustan Zinc shares rise 6% in 3-day rally as silver's bull run continues

Hindustan Zinc shares rise in trade. 

Hindustan Zinc shares rose over 6 percent in a three-day rally till Wednesday, tracking the continued surge in silver prices.

The stock touched a fresh 52-week high of Rs 631.90 on the NSE, rising 3.62 percent during the session. It is at its highest level since August 2024.

The rally in the stock came amid a sharp rise in prices of precious metals.

Gold crossed $4,500 an ounce for the first time on Wednesday, while silver and platinum also hit record highs, driven by safe-haven demand and expectations of further interest rate cuts in the US.

Silver touched an all-time high of $72.70 an ounce and was last trading 0.9 percent higher at $72.09. Platinum peaked at $2,377.50 before easing to trade 0.3 percent higher at $2,282.70.

US President Donald Trump said on Tuesday that he wants the next Federal Reserve chairman to lower interest rates if markets are performing well. Precious metals, which do not offer yields, tend to benefit in a low interest rate environment. Markets are currently factoring in two rate cuts next year.

(Inputs from Reuters)

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