Record rise in silver and gold prices, rise due to global tension and increase in industrial demand.

The prices of gold and silver are continuously increasing in the country. Now silver has crossed Rs 3 lakh. According to the information, March silver futures on MCX touched a record high of ₹3,01,315 per kg with a gain of ₹13,550 or more than 5%. Investors were attracted to safe assets as global geopolitical risks increased due to US President Donald Trump’s threat of tariffs on Greenland, which had a direct impact on gold and silver prices.

Apart from silver, MCX gold February futures also rose by ₹3,000 or more than 2% to hit a record high of ₹1,45,500 per 10 grams. Along with this, gold and silver prices also reached their peak in the international market. According to Bloomberg, by 8:11 am in Singapore, spot gold rose 1.6% to $4,668.76 an ounce, while silver rose 3.2% to $93.0211 and touched a high of $94.1213.

According to Ponmudi R, CEO of Enrich Money, after a sharp correction in COMEX silver prices, it has currently stabilized in the region of $89-90. He says that this period of decline in silver does not indicate a change in trend, because continuous industrial demand and lack of supply is supporting it.

Meanwhile, the rise in silver prices is being attributed to geopolitical tensions and increased industrial usage. Silver’s many industrial uses include its high electrical conductivity and thermal energy capacity, making it even more attractive.