Zinc, aluminium at multi-year lows as coronavirus devastates commodities

Decline in silver over 3%, gold holds fort with a marginal loss

Global equity selloff has had a ripple effect on the commodities markets with prices of major global commodities falling between 1 and 3.2 per cent on Friday. This is owing to the widespread coronavirus outbreak across the world which pushed the global economy into uncertainty.

The decline was sharper in India due to nearly 1 per cent depreciation in the rupee, which closed at Rs 72.17 against the dollar on Friday. All base metals on the benchmark London Metal Exchange (LME) reported a decline of up to 1.7 per cent. Energy, including crude oil and natural gas, slumped by up