Mumbai, Jan 20 || Silver prices on COMEX exchange touched record high at $94.740 an ounce on Tuesday, as investors rushed to buy safe‑haven assets while US–Europe trade dispute intensified after President Donald Trump continued tariff rhetoric tied to Greenland.
Gold prices also traded near record highs, as MCX gold February futures rose 1.27 per cent to Rs 1,47,490 per 10 grams. Meanwhile, MCX silver March futures rose 1.75 per cent to Rs 3,15,720 per kg.
Spot gold price touched $4,671.54 per ounce, after reaching a record $4,689.39 in the previous session.
On an intraday basis, the metals eased slightly after an earlier sharp rally that followed Trump’s announcement of planned duties on eight European countries opposing his Greenland move.
President Trump declined to rule out the use of force on Monday to acquire Greenland and insisted he would follow through on the threatened tariffs on goods arriving in the US from European countries.
French President Emmanuel Macron said he would seek activation of the EU’s anti‑coercion mechanism against tariff coercion, while German Chancellor Friedrich Merz urged restraint. Denmark’s decision to increase its military presence in Greenland has added to geopolitical uncertainty.