Silver ETFs rise 5.5%, Hindustan Zinc shares up 3.5% as precious metal surges 4%

Silver exchange traded funds rose 5.5% on March 25 as precious metal’s futures surged 6%, buoyed by a softer dollar, while a drop in oil prices eased concerns about elevated inflation and higher global interest rates, amid reports of a US plan to end the Middle East war. Spot silver rose 3.6% to $73.78 per ounce.

At 9:55 am on March 25, Nippon India Silver ETF was trading 5% higher at Rs 223.24 while Groww Silver ETF and Zerodha Silver ETF were trading 5.5% and 5% higher.

Shares of Hindustan Zinc were trading 3.5% higher at Rs 514.25 apiece. Hindustan Zinc is the biggest silver producer in the country.

Meanwhile, gold rose more than 2% on Wednesday.