Mumbai : On Tuesday, January 19, MCX gold prices rose to a new record high of ₹1,46,328 per 10 grams. Meanwhile, MCX silver rate today surged to a new high of ₹3,19,949 per kg.
The prices of gold and silver surged high due to escalation of geopolitical tensions between USA and Europe tussle of gold rush into safe haven assets. Since Donald Trump has threatened to acquire greenland amid tariff push to European nations. It seems the market has taken the rally to tense it’s investors.
In 2025, Gold and silver experienced historic rallies driven by a supportive macroeconomic backdrop that consisted of monetary policy expectations, proliferating geopolitical tensions that sparked their safe-haven appeal and investment inflows.
Markets interpreted the latest tariff announcement as a clear message of emerging trade tussle between the U.S. and Europe leading to a more dangerous phase. According to the latest plans of the White House, the imposition of 10% tariffs starting February 1 on eight European countries, including France, Germany, and the United Kingdom might rise sharply to 25% by June, unless a deal is reached over Greenland.
The other factor is fear. Investors are increasingly tense that Trump’s Greenland-related tariff threats could create havoc in the U.S.–Europe alliance and disrupt global trade flows. The CEO of Enrich Money, Ponmudi R, claims that MCX Gold is still reflecting worldwide strength thanks to a comparatively constant USD/INR ratio in the 90.90–91.00 range. According to him, the ₹1,43,000–₹1,45,000 zone serves as strong dynamic support, and the ascending channel structure is still intact.
The strength of the current trend is being reinforced by the enthusiastic buying of each downturn. Upside goals toward ₹1,48,000–₹1,50,000 can be swiftly opened by a distinct and persistent breakout over ₹1,45,000–₹1,45,500. The bias is still rather bullish overall, according to Ponmudi R.
Regarding the silver price forecast, he stated that MCX Silver has executed a powerful breakout and is still exhibiting high-beta outperformance, easily absorbing every slight downturn.
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