MAM
Gold glitters less as base metals shine brighter
MUMBAI: Gold bulls blinked in October as the yellow metal slipped 0.5 per cent in rupee terms after touching record highs near Rs 1.21 lakh, while silver sparkled briefly before easing 1 per cent. After months of glitter, profit-booking and a stronger dollar dimmed the bullion buzz.
Silver still outshone gold over the year, up 68.3 per cent versus gold’s 57.2 per cent. A supply squeeze and soaring ETF premiums kept silver in the spotlight, even as China curbed retail gold access and cut VAT exemptions from 13 per cent to 6 per cent.
Base metals stole the show. Copper broke above Rs 1,000, riding renewed trade optimism and mine disruptions that trimmed global inventories by nearly half. LME copper stocks fell 50 per cent, while refined production rose only 4 per cent against a 6 per cent surge in demand.
Zinc surged 4.5% as smelter shutdowns in Japan, Italy, and the US shrank supply. LME zinc stocks plunged to a two-year low of 38,000 tonnes, pushing the market into tight backwardation unseen since 1980.
Aluminium climbed 5 per cent, buoyed by easing US-China tensions and shrinking warehouse stocks, which are down 14 per cent this year. With global demand expected to soar nearly 40 per cent by 2030, supply strains are set to linger.
Energy markets flickered between hope and hesitation. Crude oil slipped 2.6 per cent on weaker demand despite geopolitical flare-ups, while natural gas gained 3.1 per cent as winter loomed and AI-driven power demand lifted consumption forecasts.
Central banks held steady, with the RBI keeping rates at 5.5 per cent and trimming inflation forecasts to 3.1 per cent. The Fed paused its balance-sheet runoff after two rate cuts this year, as the US shutdown stretched past 30 days.
From bullion dips to base metal breaks, the month painted a picture of cooling glitters and glowing grit, proof that in commodities, it’s never all gold that glitters.
Brands
Hiili names Sanjay Hemady as country manager India
Media veteran to drive digital decarbonisation push
MUMBAI: Climate tech firm Hiili has announced its entry into India, appointing industry veteran Sanjay Hemady as India country manager to steer its growth in one of the world’s fastest-expanding digital markets.
Hemady, a familiar name across India’s media and consulting circles, will lead Hiili’s India operations from Mumbai. His mandate is clear: help Indian companies measure, manage and reduce the carbon emissions generated by their digital services.
Hiili offers a scientifically validated platform, certified by the UC3M-Santander Big Data Institute, that enables businesses to improve the efficiency of their digital infrastructure while cutting emissions. As organisations race to meet ESG targets, the company positions itself as a practical bridge between climate pledges and measurable action.
“I’m happy to share that I’m starting a new position as country manager, India at Hiili,” Hemady said in a LinkedIn post, adding that the company aims to move beyond broad sustainability promises towards precise, science-based decarbonisation.
Hemady brings more than three decades of experience spanning print, television, radio and digital media. He has previously served as chief executive officer at HIT 95 FM, assistant general manager at CNBC TV18, and held leadership roles at MTV India and The Indian Express, among others. Most recently, he worked as an independent business consultant advising firms across media and technology.
With India’s digital economy expanding at pace, the environmental cost of data, streaming and online services is climbing quietly in the background. Hiili’s bet is that carbon efficiency will soon sit alongside cost efficiency in boardroom conversations.
For Hemady, the move marks a shift from selling airtime and ad inventory to championing climate accountability. If successful, Hiili’s India play could make digital growth not just faster, but cleaner too.
