Commodities
Silver Surge Boosts Indian Shares
Silver prices rose globally on Tuesday, causing major silver-linked shares to gain in Indian markets. Hindustan Zinc surged 1.59% to Rs 598.50, Vedanta climbed 1.21% to Rs 271.25, and NMDC traded higher at Rs 84.40.
The gains came as the white metal's price rose 1.02% to Rs 2,447.00 in India. Internationally, spot silver prices climbed 1% to $66.88 an ounce.
According to Geojit, as long as silver prices stay above $60, they are likely to extend their upticks. However, intraday volatility is expected.
The brokerage also mentioned that resistance is seen at Rs 2,53,000 for silver futures, which needs to be cleared for a fresh rally in the metal.