Hindustan Zinc slides 5% as spot silver drops 5% to $61.90 an ounce

On June 23, global spot silver fell 5% to $61.90 per ounce, its lowest level since June 11, while India’s domestic silver futures slumped by ₹2.25 lakh per kilogram. Hindustan Zinc, one of India’s major silver producers, dropped 5% on the day and touched an intraday low of 544 rupees. The report said the company’s revenue and profit are highly sensitive to silver prices, with silver down 15% month-to-date and about 50% off its May peak.