23-Jun-2026 11:17:44
Precious Metals Plunge Up to 3%; Hindustan Zinc and Muthoot Finance Shares Slide
Gold and silver prices tumbled up to 3% in domestic and global markets, triggering a sell-off in precious metal-linked equities. This sudden commodity downturn directly pressured major commodity-linked stocks. Hindustan Zinc, India's largest silver producer, saw its share price fall 3% as sliding silver prices threatened earnings sentiment. Concurrently, major gold loan financier Muthoot Finance dropped 2% on growing investor concerns that a prolonged bullion correction could cool down its loan book growth and collateral valuation momentum.