Gold prices also remained under pressure, with spot gold falling 1.65% to $4,574.10 per ounce, its lowest level in nearly a week.

Precious metals weakened after stronger-than-expected US inflation data heightened expectations that interest rates could remain elevated for longer. US wholesale inflation recorded its fastest rise since 2022 in April, while consumer inflation saw its sharpest increase since 2023.

The higher inflation readings strengthened the US dollar and pushed benchmark 10-year Treasury yields near one-year highs, reducing the appeal of non-yielding assets such as gold and silver.

Silver prices were further impacted by profit taking after the recent rally, which had been driven by speculative interest in industrial metals and expectations of tighter supply conditions.

Investor sentiment also remained cautious amid continuing geopolitical tensions in West Asia, which kept crude oil prices elevated. Concerns over disruptions in the Strait of Hormuz, a critical global energy shipping route, added to fears of persistent energy inflation.

Elevated crude oil prices could sustain inflationary pressures globally and increase the likelihood of tighter monetary policy, weighing further on precious metals.

Hindustan Zinc, a Vedanta Group company, is the world's largest integrated zinc producer and among the top 10 silver producers globally. The company exports to over 40 countries and holds around 74% share of India's primary zinc market.

The company reported a 67.59% YoY jump in consolidated net profit to Rs 5,033 crore in Q4 FY26 from Rs 3,003 crore in Q4 FY25. On a sequential basis, net profit rose 28.52% from Rs 3,916 crore in Q3 FY26.

Revenue from operations increased 49% YoY and 23% QoQ to Rs 13,544 crore in Q4 FY26, driven by higher zinc and silver prices, increased production, lead concentrate sales, better by-product realisations and a stronger dollar.