Silver price today, Jan 21: Rates jump to Rs 3.20 lakh/kg as Trump’s Greenland-linked tariff threats stoke trade-war fears

Silver Is Stealing the Show

• Silver hits record highs in India and globally amid rising geopolitical tensions
• Domestic silver futures rise 3.34% to Rs 3,35,500 per kg
• Trump's tariff threats and Greenland remarks boost safe-haven demand for silver

Did our AI summary help?

Silver has been on a record-breaking spree amid geopolitical tensions and trade ties, lifting its safe-haven demand.

The metal was quoted at Rs 3,20,075 per kilogram in the 12:30 pm Indian Bullion and Jewellers Association (IBJA) rate session, representing a 4.5 percent gain from the previous close at Rs 2,04,83.

On MCX, the domestic futures price hit a record high of Rs 3,35,500 on Wednesday, and continued to hover around Rs 3,34,488 (12;41 pm IST), representing a gain of 3.34 percent from its previous close.

On the international market, the spot price hit a record high of $95.53 per ounce on Comex, and dipped to $94.17 (7:12 am GMT), representing 0.49 percent decline from previous close.

Silver price continues to surge as Trump’s Greenland remarks and tariff threat against eight European nations heightened trade-war fears, triggering a getaway to safe-haven assets.

Here is how a kilogram of silver has moved.

How will silver prices move?

The Augmont Bullion report, published on January 21, noted that silver has breached $95 on risk-off sentiment. "The next upside levels to watch are the 78.6 percent Fibonacci extension at $99-$100 (Rs 3,50,000) and the 100 percent Fibonacci extension near $107 (Rs 4,00,000). On the downside, $90 (Rs 3,05,000) remains a strong support area.

Markets remain on edge after the US President Donald Trump announced that imports from several European countries would face 10 percent tariffs from February 1, escalating to 25 percent from June 1, unless an agreement is reached on what he termed the “complete and total purchase” of Greenland.