Silver rate today: Silver prices on Multi Commodity Exchange (MCX) continues its bull run, rose nearly 1% on Tuesday, January 19, after hitting record-high of ₹3,00,000 per kg on Monday.
MCX silver rate began Tuesday’s session on a weaker note, opening at ₹3,06,499 per kg, down from the previous close of ₹Rs 3,10,275 per kg. However, the white metal soon pared losses, jumped to ₹₹3,12,700 per kg.
Meanwhile, on the international front, Comex silver touched a record high of $94.740 per ounce on Tuesday.
What’s driving the silver prices today?
Silver prices rose due to increased safe-haven demand and a weaker US dollar, following Trump’s intensified efforts to claim Greenland from fellow NATO ally Denmark, which led the European Union to consider retaliatory measures.
According to Bloomberg report, financial markets have been shaken by the US’s more confrontational approach toward its NATO allies, boosting demand for safe-haven assets and reviving interest in the so‑called “Sell America” trade.
Focus has now turned to how Europe will respond. French President Emmanuel Macron is preparing to push for the activation of the European Union’s anti‑coercion mechanism, while German Chancellor Friedrich Merz has emphasized caution and urged restraint.
According to Bloomberg, this market disruption—coming on the heels of the US’s capture of Venezuela’s leader—has further fueled the already strong rally in precious metals. At the same time, renewed criticism of the Federal Reserve from the Trump administration has helped bolster gold and silver this year by reviving concerns about the central bank’s independence.
(This is a developing story)
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
