Silver Nears Record High Amid Trump Tariffs, Geopolitical Tensions

• Silver traded near its record high of $93.79 internationally on January 21, after hitting a new peak of $95.53 on January 20.
• On MCX, silver reached a record high of Rs 3,27,721 on Tuesday, closing at Rs 3,23,200.
• The surge is attributed to increased safe-haven demand driven by Trump's Greenland remarks and tariff threats against European nations, escalating trade-war fears.
• Augmont's Bullion Report indicates potential upside targets for silver at $99-$100 (Rs 3,30,000) and $107 (Rs 3,50,000), with $86.5 (Rs 2,80,000) as key support.
• Silver has surged almost 30 percent this year, with strong speculative demand in China, despite easing physical tightness elsewhere.

Why It Matters: Silver prices are soaring to record highs globally due to safe-haven demand amid rising geopolitical and trade tensions.