Metal Index Plunges 5% as Gold, Silver Crash; Hind Copper, NALCO Shares Down 19%
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Moneycontrol•01-02-2026, 10:13
Metal Index Plunges 5% as Gold, Silver Crash; Hind Copper, NALCO Shares Down 19%
- •The Nifty Metal index tumbled over 5 percent, hitting a low of 11,218.80 in early trading on Sunday.
- •Hindustan Copper shares fell 19 percent, NALCO declined 14.5 percent, and Hindustan Zinc dropped 13.5 percent.
- •Gold futures for April expiry plunged 6 percent (Rs 9,140 per 10 grams) to open at Rs 1,43,205 per 10 grams.
- •Silver futures for March expiry also dropped 6 percent (Rs 17,515 per kg) to open at Rs 2,74,410 per kg.
- •The crash is attributed to rampant profit-booking, a stronger dollar, and US President Donald Trump's choice of a hawkish Fed head.
Why It Matters: Metal stocks and precious metals experienced a significant crash due to profit-booking and a stronger dollar.
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