Hindustan Zinc shares tumble 7% in two sessions as silver prices crash. The stock slipped over 2% to Rs 621.45 on Monday, extending losses driven by a sharp MCX silver selloff that plunged nearly 13% in just three trading sessions following import duty hikes and geopolitical tensions. Unlike gold, silver faces significant demand destruction at elevated price levels due to its large industrial component across solar panels, semiconductors, electric vehicles, and green energy systems. Analysts note that while Iran conflict initially triggered safe-haven buying, markets shifted focus to prolonged oil price impacts on global growth, causing silver to trade more like an industrial commodity than a defensive asset. India's 15% import duty increase further pressures domestic demand and jewellery consumption.
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