Gold and Silver Prices Surge Amidst Trump Tariff Threat and Global Tensions

International tensions are causing gold and silver prices to rise continuously. Once again, a surge in the prices of both metals has been observed.

Gold and silver prices have surged once again. Gold has become nearly fifteen hundred rupees more expensive, while silver prices have directly jumped by about 11 thousand rupees. The prices of gold and silver are rising due to US President Donald Trump's threat of tariffs on the issue of Greenland and increasing international tensions. Trump has warned of imposing heavy tariffs on countries that do not support him in occupying Greenland. Meanwhile, NATO member countries' military contingents have reached Greenland to deal with US actions.

Prices Surge Again

On MCX, on the morning of January 20, the price of 10 grams of 24-carat gold was trading at Rs 1,46,600, which is Rs 1519 higher than the previous session. Silver is available at Rs 3,13,913 per kg, marking a jump of over Rs 11,000. Internationally, gold has reached $4,681.66 per ounce, while silver is trading at $93.69 per ounce. Gold and silver are continuously strengthening. After one or two major dips in between, it was being said that the silver bubble had burst, but silver has proved those predictions wrong.

Trump Increasing Tensions

Commodity experts believe that the factors supporting gold and silver are still present. Therefore, the prices may continue to rise. Although there might be some fluctuations in between, it is unlikely that the appeal of both metals will diminish. The US stance on Greenland is likely to increase international tensions. Donald Trump wants to occupy Greenland at any cost, and NATO countries are standing firm against it. In such a scenario, the situation could worsen in the coming days. Meanwhile, statements from Russia are also giving rise to fears of an escalation in the war with Ukraine. In such a situation, investment in gold and silver may increase, and prices may rise.

Further Rise Expected

News that increases tension, whether international or domestic, attracts investment in gold. Investment in gold is considered the safest. Now, silver has also joined the gold category. There is a rapid inflow of investment in silver. Additionally, silver has significant industrial applications, especially with increasing demand in electric vehicles and the solar sector, while supply has not increased. China has also limited silver exports. Due to these reasons, the shine of silver, along with gold, may continue to increase.