Silver Dips to $88 After Record High, Geopolitical Tensions Fuel Rally

• Spot silver fell to $88.210/ounce on January 15, a 3.47% dip from its previous close, after hitting a record high of $93.70/ounce.
• The surge to record highs was driven by worsening geopolitical tensions and sustained industrial demand, pushing investors towards safe-haven assets.
• On MCX, silver closed at Rs 2,89,000 per kilogram on Wednesday, up 0.34% from the previous close, having touched Rs 2,93,000 earlier.
• The Augmont Bullion report attributes silver's rally to concerns over US Federal Reserve independence, escalating geopolitical tensions, and trade uncertainty.
• Silver has surpassed Nvidia in market capitalization, becoming the world's second-most valued asset after gold, with projections for further gains.

Why It Matters: Silver saw a slight dip after reaching a record high, but geopolitical tensions and demand suggest further rally.