Hindustan Zinc slips 5% as spot silver falls 2.4% and dollar index tops 101

On June 23, spot silver fell 2.4% to $64.01 per ounce, extending a near-50% pullback from its previous peak. Expectations of a U.S. Federal Reserve rate hike and easing geopolitical tensions reduced demand for safe-haven assets, while the dollar index moved above 101, adding pressure to dollar-priced metals. Hindustan Zinc, India’s only pure listed silver play, dropped 5% as silver contributes 45–50% of its EBIT, leaving the stock highly sensitive to price moves.