Silver On MCX Crosses ₹3 Lakh Per Kg For First Time Amid Tariff Tensions

Mumbai, 19 January 2026: Silver prices on the Multi Commodity Exchange (MCX) crossed the ₹3 lakh per kilogram mark for the first time on Monday, reflecting heightened demand for precious metals amid escalating geopolitical and trade-related uncertainties. The metal touched an intraday high of ₹3,01,315 per kg, marking a historic milestone for domestic commodity markets.

Silver Hits ₹3,01,315 Per Kg as Safe-Haven Demand Rises

Silver surged sharply during early trade, driven by increased buying interest as global uncertainties intensified. At the time of writing, silver on MCX was trading at ₹3,00,479 per kg, up ₹12,717, or around 4%, from the previous close. The move past the ₹3 lakh threshold represents a significant psychological level for the metal on Indian exchanges.

Tariff Threats on Europe Trigger Flight to Precious Metals

The rally follows fresh geopolitical developments after former US President Donald Trump threatened to impose tariffs on eight European countries, including France, Germany and the United Kingdom, over their resistance to his proposal for Greenland’s accession to the United States. The proposed tariff structure includes a 10% levy from 1 February, set to rise to 25% by June, heightening concerns around global trade stability.

Geopolitical Uncertainty Lifts Global Silver Prices

The MCX rally mirrored strength in international markets, where silver prices also moved higher amid increased demand for perceived safe-haven assets. Globally, silver rose 3.20% to $93.02 per ounce, after touching an intraday high of $94.12 per ounce. The move comes alongside gains in other precious metals as investors navigated uncertainty stemming from trade and geopolitical developments.

Precious Metals Rally Gains Momentum Across Markets

Silver’s sharp rise forms part of a broader precious metals rally seen across global markets. The renewed focus on tariffs and geopolitical risks has supported sustained interest in metals traditionally used as hedges during periods of uncertainty. While silver led gains in percentage terms, gold also remained firm during the session, reinforcing the wider trend across the sector.

Silver Trading on MCX Reflects Global Developments

Silver contracts on the Multi Commodity Exchange often track international price movements while factoring in domestic demand dynamics and currency trends. The latest surge underscores how global policy signals and geopolitical headlines continue to influence price discovery in India’s commodity markets.

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