Hindustan Zinc shares traded higher on Wednesday, Dec 10, moving up 2.66% to Rs 503.50 in early trade after global silver prices surged to historic levels. The stock gained Rs 13.05 amid renewed optimism in the metals space.
The positive sentiment comes after spot silver crossed the $60 per ounce mark for the first time ever on Tuesday, driven by a widening market deficit and growing industrial and investment demand. In London trade, silver briefly touched $60.47 per ounce, marking a major milestone for the white metal.
The rally in silver also pushed the Gold/Silver Ratio — a key indicator comparing the price of gold to silver — below 70 for the first time since July 2021. With gold trading near $4,217 per ounce, the ratio’s drop signals a shift toward stronger industrial demand and reduced relative fear sentiment in global markets.
Historically viewed as a barometer of economic cycles, the Gold/Silver Ratio averaged 67.6 in the 2010s, rose sharply to 82.5 between 2020–2024, and climbed further to 89.2 in 2025 before this week’s sharp reversal.
The spike in silver prices has boosted sentiment for metal producers, including Hindustan Zinc, which remains one of the largest integrated zinc-lead-silver producers globally.
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