MCX Silver rate fell almost 2% to ₹2,34,000 per kg, while MCX Gold price lost 1.7% to ₹1,49,888 per 10 grams.

Meanwhile, in the global markets as well, precious metal prices declined. Spot silver dropped 1.5% to $64.43 per ounce, while spot gold fell 1.8% to $4,187.59 per ounce by 0230 GMT, touching its lowest level since March 23. US gold futures for August delivery also declined 1.7% to $4,213.40.

Why are precious metal prices falling today?

The latest weakness in precious metals followed a sharp rise in the US dollar, making dollar-denominated assets such as gold and silver more expensive for holders of other currencies. At the same time, oil prices advanced around 1%, adding to worries that inflationary pressures could remain elevated and force central banks to maintain a tighter policy stance for longer.

The geopolitical backdrop also weighed heavily on sentiment. The United States launched strikes against Iran on Tuesday after President Donald Trump accused Tehran of shooting down a US Apache helicopter in the Strait of Hormuz. The incident deepened uncertainty surrounding a potential peace agreement and added further strain to an already fragile truce in the region.

According to US officials, American forces carried out what they described as “self-defense strikes” after the helicopter was brought down off the coast of Oman. Meanwhile, Iran’s state-run IRIB reported at least six explosions on Qeshm Island, located in the strategically important Strait of Hormuz.

The escalation renewed concerns about disruptions to global energy supplies, a factor that has remained a key driver of commodity markets in recent months.

Higher oil prices tend to increase inflationary pressures across economies. As a result, investors now expect central banks, particularly the US Federal Reserve, to remain cautious about cutting interest rates. In some cases, markets are even beginning to price in the possibility of further rate increases.

According to the CME FedWatch Tool, traders are currently assigning more than a 70% probability of a Federal Reserve rate hike by December.

This environment is generally negative for precious metals. While gold is traditionally viewed as a hedge against inflation, both gold and silver become less attractive when interest rates rise because they do not generate any yield. Higher borrowing costs also strengthen the appeal of interest-bearing assets relative to bullion.

Investors are now awaiting a series of key US inflation indicators that could provide further clues about the Federal Reserve’s next policy move. Market participants will closely watch the May Consumer Price Index (CPI) report due later on Wednesday, followed by the Producer Price Index (PPI) data scheduled for Thursday.

Levels to watch now

Renisha Chainani, Head – Research at Augmont, noted that gold and silver are consolidating near key support levels as markets digest a fragile Israel-Iran ceasefire alongside mounting concerns over inflation and the prospect of further interest rate hikes.

According to the expert, Silver is oversold, testing key support in the $64–$60 range (approximately ₹2,30,000– ₹2,32,000). As with gold, a 3–6% technical recovery is the base case on dip-buying, but a confirmed sustainability below this support would accelerate selling pressure toward $60 (approximately ₹2,18,000) in short-term.

For the yellow metal, she said, “Gold is currently trading at deeply oversold levels near the critical support zone of $4,150 (approximately ₹1,48,000). A technical rebound of 3–4% is anticipated from current levels, driven by bottom-fishing activity. However, a sustained break below this support would shift the near-term bias decisively lower, exposing the $4,000–$4,040 range (approximately ₹1,50,000– ₹1,51,500) as the next downside target.”

Frequently Asked Questions (FAQs)

Disclaimer

This article is intended for educational purposes only. The views and opinions expressed are those of individual analysts or brokerage firms and do not represent the views of GoldSilverReports.com. Investors are strongly advised to consult certified financial experts before making any investment or trading decisions.

The post Silver Rate Today Falls 2% to ₹2.34 Lakh Amid Strong Dollar and Rising Crude Oil Prices appeared first on Gold Silver Reports.

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The development also impacted Vedanta Ltd, the promoter of Hindustan Zinc, whose shares dropped more than 5% as investors reacted cautiously to the proposed stake sale.

Why Did Hindustan Zinc Shares Fall?

According to market reports, the government is considering selling around 2% of its stake in Hindustan Zinc to raise funds. Such stake sales often increase the supply of shares in the market, which can put pressure on stock prices in the short term.

Investors typically remain cautious ahead of large OFS announcements due to concerns about pricing discounts and increased market volatility.

Impact on Vedanta Shares

The negative sentiment was not limited to Hindustan Zinc. Shares of Vedanta also came under selling pressure and declined over 5%.

Market experts believe that any significant development involving Hindustan Zinc tends to influence Vedanta because the company holds a majority stake in the zinc producer. The proposed government stake sale has created uncertainty among investors, leading to profit booking in both stocks.

What Is an Offer for Sale (OFS)?

An Offer for Sale (OFS) is a mechanism that allows promoters or major shareholders to sell their stake in a listed company through the stock exchange platform.

The process helps large shareholders reduce their holdings while providing retail and institutional investors an opportunity to buy shares directly from the market.

Market Outlook

Analysts suggest that the near-term movement in Hindustan Zinc shares will depend on the final details of the stake sale, including the offer price and investor response. While short-term volatility may continue, long-term investors are expected to focus on the company’s fundamentals, production growth, and metal price trends.

Investors will closely monitor official announcements regarding the government’s stake sale plan and its impact on the stock’s valuation.

Key Highlights

FAQs

Disclaimer

This article is intended for educational purposes only. The views and opinions expressed are those of individual analysts or brokerage firms and do not represent the views of GoldSilverReports.com. Investors are strongly advised to consult certified financial experts before making any investment or trading decisions.

The post Hindustan Zinc Shares Fall 6% on Reports of Government’s 2% Stake Sale; Vedanta Drops 5% appeared first on Gold Silver Reports.

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Market analysts believe that the technical structure of gold has turned weak as prices continue to form lower highs and lower lows on the daily chart. This pattern is generally considered a sign of increasing selling pressure and a possible continuation of the downtrend.

Technical Indicators Signal Weakness

Another important indicator, the Relative Strength Index (RSI), is also showing signs of weakness. The RSI is moving lower and creating fresh lower lows, which indicates that bullish momentum is fading.

The combination of weaker price action and declining momentum suggests that gold may remain under pressure in the coming sessions.

Key Levels to Watch

A major resistance key level is currently placed near ₹1,57,900. If MCX Gold breaks below this level decisively, the selling pressure could intensify.

In such a scenario, prices may move towards the next downside targets of ₹1,52,000 and ₹1,47,000 over the medium term.

On the upside, ₹1,62,500 remains a strong resistance zone. Gold prices will need to sustain above this level to regain positive momentum and revive bullish sentiment.

MCX Gold Support and Resistance Levels

BUY KARNA MANA HAI

Market Outlook

The overall technical outlook for MCX Gold remains cautious. As long as prices stay below ₹1,62,500, the market may continue to witness selling pressure. Traders and investors should closely monitor the ₹1,57,000 support level, as a breakdown below this mark could trigger a sharper correction in gold prices.

Frequently Asked Questions (FAQs)

Conclusion

MCX Gold has entered a weak phase after posting a nearly 2% weekly decline. Technical indicators continue to point towards a bearish bias, with ₹1,57,000 emerging as the most crucial support level. Traders should remain cautious and watch for a decisive breakout or breakdown before taking fresh positions.

Disclaimer

This article is intended for educational purposes only. The views and opinions expressed are those of individual analysts or brokerage firms and do not represent the views of GoldSilverReports.com. Investors are strongly advised to consult certified financial experts before making any investment or trading decisions.

The post MCX Gold Price Outlook: Gold Falls Nearly 2% Last Week, More Downside Risk Ahead appeared first on Gold Silver Reports.

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The comments come as policymakers, including Prime Minister Narendra Modi, have flagged India’s dependence on imports of critical commodities such as copper and gold as a strategic concern.

“By the end of this year, India will not be dependent on imported copper anymore,” Pai said during a post-earnings interaction with media, pointing to new smelting capacity and recycling initiatives coming on stream.

The shift is being driven by multiple developments. The commissioning of a new copper smelter by the Adani Group in Gujarat is expected to significantly boost domestic production.

Hindalco is also ramping up its capabilities, including a 50,000-tonne copper recycling plant and a copper pipe smelter project, Pai said.

Hindalco’s copper sales stood at 487,000 tonnes in FY26, down from 491,000 tonnes a year earlier. Adani’s Kutch Copper reported sales of 113,600 tonnes in FY25 against an installed capacity of 500,000 tonnes.

India’s copper sector has been structurally dependent on imports since the closure of smelter operations at Vedanta-owned Sterlite Copper plant in Tuticorin in 2018, which turned the country from a net exporter into a net importer. Since then, rising demand from sectors such as power, infrastructure, electric vehicles, and renewable energy has further widened the gap between domestic supply and consumption.

“Considering India’s refined copper consumption is currently estimated at around 1.7 million tonnes (mnt), while effective domestic refined copper production capacity from major primary producers stands at nearly 1.2 mnt, the country continues to rely on imports to bridge the supply gap,” said Jayprakash Sahu, general manager-non ferrous, BigMint, a commodities market intelligence firm.

Refined copper imports are expected to continue in the near term until Kutch Copper stabilizes and ramps up utilisation of its 0.5 mnt capacity smelter, a process that may take time due to phased operational scaling, said Sahu.

Pai said while India may become self-sufficient in refined copper, the country will continue to rely on imported copper concentrate, the key smelting raw material, which is processed into refined copper and further into products like rods and wires.

“To be fair, we will still be dependent on copper ore coming in from outside,” Pai said, noting that domestic mining output remains limited.

To mitigate this risk, Hindalco has locked in long-term contracts for copper concentrate, with about 85% of its requirements tied up under five-year agreements, ensuring supply stability. In parallel, the company has begun exploration activities in India, with early signs indicating promising reserves, Pai said.

“What I hope will happen after five years is that at least 20-25% of our requirements we should be able to get domestically. Today we are getting about 10% based on the copper mines of Hindustan Copper,” Pai said.

On the raw material side, India is expected to remain structurally dependent on imported copper concentrates, blister copper, and copper scrap, as domestic ore availability remains limited. These imports will continue to play a critical role in supporting both primary and secondary copper production in the country. Even with upcoming smelting expansions, concentrate imports are unlikely to decline materially, given India’s growing copper demand and limited captive mining resources, said Big Mint’s Sahu.

The push for self-reliance in copper aligns with India’s broader industrial strategy, particularly as demand accelerates from energy transition sectors. Big Mint estimates copper demand will grow at 10–12% annually, driven by renewable energy, EVs, transmission infrastructure, electronics manufacturing and urbanization.

India’s copper concentrate imports rose to 1.18 million tonnes in FY25 from 1.02 million tonnes in FY24, according to Big Mint.

In FY26, Hindalco’s copper earnings before interest, taxes, depreciation, and amortisation (Ebitda) stood at ₹2,809 crore, down from ₹3,025 crore in FY26. About 25% of Hindalco’s revenue from operations came from its copper business.

Disclaimer

This article is intended for educational purposes only. The views and opinions expressed are those of individual analysts or brokerage firms and do not represent the views of GoldSilverReports.com. Investors are strongly advised to consult certified financial experts before making any investment or trading decisions.

The post India may end refined copper import dependence this year, says Hindalco MD appeared first on Gold Silver Reports.

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यह फैसला इसलिए लिया गया ताकि फेडरल रिजर्व में कामकाज बिना रुकावट चलता रहे। अब पॉवेल तब तक इस पद पर बने रहेंगे, जब तक Kevin Warsh आधिकारिक तौर पर Fed के 17वें चेयरमैन के रूप में शपथ नहीं ले लेते।

Kevin Warsh को सीनेट से मिली मंजूरी

अमेरिकी सीनेट ने इस हफ्ते की शुरुआत में Kevin Warsh के नाम को 54-45 वोटों से मंजूरी दे दी थी। हालांकि, उनके शपथ ग्रहण की तारीख अभी तक घोषित नहीं हुई है।

Federal Reserve बोर्ड ने पॉवेल को अस्थायी चेयरमैन बनाने के पक्ष में 5-1 से वोट किया। इस दौरान गवर्नर Stephen Miran ने विरोध किया, जबकि Michelle Bowman ने वोटिंग में हिस्सा नहीं लिया।

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दोनों नेताओं ने यह भी कहा कि अगर Kevin Warsh समय पर शपथ नहीं लेते हैं, तो इस अवधि को बढ़ाने के लिए दोबारा बोर्ड वोटिंग या राष्ट्रपति आदेश जरूरी होगा।

Donald Trump की मंजूरी के बाद होगी शपथ

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Jerome Powell ने साफ किया है कि वह पूरी तरह Federal Reserve नहीं छोड़ेंगे। वह बोर्ड ऑफ गवर्नर्स में अपनी सीट बनाए रखेंगे, जिसका कार्यकाल जनवरी 2028 तक है।

उन्होंने कहा कि वह तब तक बोर्ड नहीं छोड़ेंगे, जब तक उन्हें यह भरोसा नहीं हो जाता कि उनके और संस्था के खिलाफ सभी कानूनी खतरे खत्म हो चुके हैं।

हाल ही में Federal Reserve मुख्यालय के नवीनीकरण में बढ़ी लागत को लेकर चल रही जांच बंद कर दी गई थी। हालांकि, संघीय एजेंसियों ने भविष्य में दोबारा जांच शुरू करने की संभावना खुली रखी है।

Stephen Miran ने दिया इस्तीफा

गुरुवार को Stephen Miran ने Fed गवर्नर पद से इस्तीफा दे दिया। उनका इस्तीफा Kevin Warsh के शपथ लेते ही प्रभावी होगा।

मिरान लगातार ब्याज दरों में कटौती की मांग कर रहे थे और फेड के कई फैसलों का विरोध करते रहे थे। अब उनकी जगह Kevin Warsh बोर्ड में शामिल होंगे।

FAQs

The post Jerome Powell बने Fed के कार्यवाहक चेयरमैन, Kevin Warsh जल्द संभालेंगे कमान appeared first on Gold Silver Reports.