National News

Gold discounts in India widened this week to their highest point in nearly eight months

Published

2 years ago

March 20, 2025

Gold discounts in India widened this week to their highest point in nearly eight months, as a surge in prices to a record high dampened demand, while customers in other key hubs also remained on the sidelines. Indian dealers this week offered a discount of up to $39 an ounce over official domestic prices, including 6 per cent import and 3 per cent sales levies, up from a discount of $10 to $21 last week.

Indian dealers this week offered a discount of up to $39 an ounce over official domestic prices, including 6% import and 3% sales levies, up from a discount of $10 to $21 last week.

“Jewellers are not keen on building high-cost inventory at the end of the financial year, as they are busy closing accounts,” said a Mumbai-based dealer with a bullion-importing bank. India’s financial year runs from April until March 31.

India’s gold imports are set to tumble 85% in February from year-ago levels, reaching their lowest levels in 20 years, as demand is dampened by record-high bullion prices.

In China, the world’s largest consumer, gold traded at a discount of $1 to an $18 premium over spot prices. Meanwhile, dealers in Hong Kong charged premiums ranging from par to $2 per ounce.In Japan, bullion was sold between a discount of $3 and a premium of $0.5, a trader said. In Singapore, gold traded between a $0.50 discount and a $3 premium

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National News

Volume Growth Surges Hindustan Zinc’s Q2 Silver Revenue By 7%

Silver Continues To Act As A Primary Growth Anchor For Hindustan Zinc, Contributing Approximately 45% Of Total Company Profitability Over The First Half Of FY27.

Published

49 minutes ago

October 29, 2026

JewelBuzz Spread The Buzz

Hindustan Zinc Limited (HZL) today announced its operational and financial results for the second quarter of FY27, demonstrating strong resilience as operational volume gains fully offset global commodity price headwinds. Driven by a major surge in silver output, the company reported a record consolidated net profit of Rs 6,412 crore for Q2.

Despite average LBMA silver prices falling 14% quarter-on-quarter to $62.6 per ounce (down from $73.2 in Q1), Hindustan Zinc’s silver revenue expanded 7% sequentially to Rs 4,111 crore, up from Rs 3,839 crore in the preceding quarter.

Key Performance Highlights for Q2 FY27:

Silver Revenue Growth: Increased 7% sequentially to Rs 4,111 crore, accounting for 27% of total revenue and 43% (Rs 3,609 crore) of total segment profits.

Volume Expansion: Silver sales volume jumped 16% quarter-on-quarter (and 17% YoY) to 173 tonnes, powered by a 20% YoY increase in silver production.

Record Financials: Consolidated revenue from operations surged 77% YoY to Rs 15,093 crore. EBITDA reached an all-time high of Rs 9,285 crore (up 108% YoY), expanding operating margins to 62%.

Operational Capabilities: Record mined metal production of 271 kilo tonnes (up 5% YoY) alongside refined lead output reaching 51 kilo tonnes (up 9% QoQ), directly boosting silver recovery from smelting debottlenecking.

Overall Profitability: Net profit rose 142% YoY and 17.2% sequentially to a record ₹6,412 crore.

Silver continues to act as a primary growth anchor for Hindustan Zinc, contributing approximately 45% of total company profitability over the first half of FY27. The company’s integrated metal production and increased smelter capacity successfully shielded overall performance from short-term commodity price dips, sustaining strong shareholder value.