Hindustan Zinc Shares Climb 2.8% as Silver Futures Smash Record Rs 3 Lakh/kg

nc Ltd shares jumped 2.83% to Rs 655.80 on the NSE on January 19, 2026, tracking a sharp surge in silver prices. Silver futures for March delivery on the MCX soared 4.71% (Rs 13,553) to a fresh all-time high of Rs 3,01,315 per kg — the first time the white metal has crossed the Rs 3 lakh mark in domestic futures trade. Globally, March silver futures climbed 6.56% to a record USD 94.35 per ounce, fuelled by robust industrial demand, persistent supply deficits, safe-haven buying, and a softer US dollar. Analysts note that silver continues to outperform gold, with the gold-silver ratio dropping sharply into the low-50s from near 105 levels late last year, underscoring the metal’s strong momentum despite some near-term caution on the pace of the rally. The rally has also pushed silver ETFs to fresh all-time highs, reflecting heightened investor interest in the precious metal.