Silver Hits Record High: Crosses ₹3 Lakh Mark Amid Geopolitical Tensions

• Silver prices surged to a new record, reaching $94.36 per ounce internationally on January 19, driven by geopolitical tensions and safe-haven demand.
• Despite a slight dip to $93.03 per ounce, international silver remained about 5% higher than its previous closing price.
• In the local bullion market, silver is trading above ₹3,10,000, with MCX prices opening at ₹2,99,482 per kg, a 3.8% increase.
• Experts attribute the rise to silver's dual role as a safe haven and strong industrial demand from electronics, solar energy, and manufacturing sectors.
• Threats of tariffs by former US President Donald Trump on European countries have increased market uncertainty, pushing investors towards gold and silver.

Why It Matters: Silver prices have reached an unprecedented high, driven by global uncertainty and robust industrial demand.