New Delhi: The rise in gold and silver continues. Geopolitical tensions have raised concern amongst the investors and majority of them are opting for safe investment. This is the reason that silver prices witnessed a tremendous rise on Thursday, 29 January as crossed the Rs 4 lakh-level mark for the first time on the Multi Commodity Exchange i.e. MCX. Due to the increasing demand for safe investments and global signals, silver has risen by about 5.10% in one day.
Silver on MCX jumped more than 5% to a new record level of Rs 405,003 per kg. This rise comes at a time when geopolitical tensions are deepening across the world and investors are increasingly turning to silver as a cheaper alternative to gold.
Silver continued to shine in global markets. Spot silver rose 10.59% to $117.4 per ounce, while it also touched a record level of $119.34 per ounce during trading. So far in the year 2026, silver has strengthened by more than 60%. The main reason for this is believed to be strong investment demand, lack of supply and momentum buying.
Gold price jump
On MCX today, gold jumped 5.82 percent to Rs 175,578 for the first time. That means gold became costlier by about 9,663 rupees on Thursday. At the international level too, there has been a bullish trend in gold. It rose 9.73 percent to $5,528 per ounce.
Why Gold and Silver are rising?
There are several big international reasons behind this boom in Gold and Silver prices. US President Donald Trump has warned Iran to renegotiate its nuclear program and indicated that in case of denial, the US military action could be tougher than ever before. Meanwhile, the news of increasing US military activity in the Middle East has increased the concern of the market.
On the policy front, the US Federal Reserve kept interest rates stable on Wednesday, which remained as per market estimates. Fed Chairman Jerome Powell said that inflation in December is still likely to remain above the central bank’s 2% target. Along with this, the softening of the dollar also supported the precious metals. Experts believe that as long as global tensions, inflation worries and economic uncertainty persist, safe investment options like silver and gold may see strength.
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