Silver ETFs fall up to 6%, Hindustan Zinc down 4.5% as prices of precious metal decline over 4%

Silver ETFs fall up to 6%, Hindustan Zinc down 4.5% as prices of precious metal decline over 4%

• Silver ETFs fell up to 6% as Fed signals no near-term rate cuts
• Gold ETFs slipped 2.5%–3% after Fed meeting
• Hindustan Zinc shares dropped 4.5% amid falling silver prices

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Prices of silver exchange traded funds (ETFs) fell up to 6% on March 19 weighed down by a firm dollar and a hawkish Federal Reserve, which limited hopes for near-term interest rate cuts that led to silver prices falling over 4%.

At 12:45 pm on March 19, Edelweiss Silver ETF, Axis Silver ETF were trading 6.37% and 6.2% lower, respectively. Meanwhile, prices of Kotak Silver ETF, HDFC Silver ETF and Nippon India Silver ETF were also trading 6% lower each.

Shares of Hindustan Zinc, the country's biggest producer of silver, were trading 4.5% lower at Rs 513.35 apiece.

Gold prices slipped 1.1% after the Fed meet.

Gold ETFs like Aditya Birla Sun Life Mutual Fund, Tata Mutual Fund, Axis Mutual Fund, DSP Mutual Fund slip 2.5%–3%.

Spot gold fell 1.1% to $4,764.27 per ounce as of 0649 GMT, its lowest since February 6.

US gold futures for April delivery fell 2.6% to $4,770.

Spot gold has fallen more than 9% since the US-Israeli strike on Iran on February 28, pressured by a stronger dollar, which has emerged as one of the clearest "safe-haven" winners.

Spot silver fell 4.3% to $72.14 per ounce. Spot platinum fell 2.1% to $1,981.48, and palladium lost 1% to $1,461.

"Gold prices hit an all-time high of ~USD 5400/oz during end January 2026. The rally was supported by a “sell-America” consensus over concerns of Fed independence, appointment of a new Fed chair. The view was for Fed rate cuts that led to a consequent weakening of the USD. The situation has now changed dramatically after the onset of the West Asia conflict that raised oil prices significantly. While the chatter now is that the US might not be able to avoid recession, inflation is expected to however stay elevated, thus fading Fed rate cut bets," said YES Securities.