Silver Prices Soar 15% in a Week, Nearing Record Highs Amid Global Tensions

• Silver prices surged by 15% in one week, with international markets seeing silver trade around $93.25 per ounce on January 22.
• On January 20, silver hit an all-time high of $95.53 per ounce on COMEX, driven by industrial demand and geopolitical tensions.
• In India, silver reached Rs 3,19,097 per kilogram on January 21, according to IBJA, and touched a record Rs 3,35,521 per kilogram on MCX.
• Experts attribute the rise to increased safe-haven demand due to former US President Donald Trump's trade war threats and tariffs on European countries.
• Future trends will be influenced by Europe's response, Davos discussions, and upcoming US GDP and inflation data.

Why It Matters: Silver prices are skyrocketing globally and in India, fueled by industrial demand and geopolitical uncertainties.