Silver Price Soars to $117/oz Amid Geopolitical Tensions, MCX Hits All-Time High

• Global silver price surged to $117 per ounce on Monday, up 7.91% on Comex, driven by geopolitical tensions and industrial demand.
• MCX silver futures opened at an all-time high of Rs 3,80,200 on Wednesday, marking a 4.98% gain.
• Indian Bullion Jewellers Association (IBJA) reported silver at Rs 3,44,564 per kilogram on January 27, an 8.45% increase.
• Geopolitical tensions, including US President Donald Trump's tariff threats on Canada and South Korea, fueled safe-haven demand.
• Augmont Bullion report suggests silver may consolidate before targeting $120 (Rs 3,90,000), with key support at $103 (Rs 3,40,000).

Why It Matters: Silver prices are experiencing a significant bullish run globally and in India due to geopolitical tensions.