Silver prices rocketed to an unprecedented level in the national capital on Monday. They smashed through the crucial Rs 3 lakh-per-kilogram barrier. Gold prices also soared to a fresh all-time high. This dramatic surge came as investors scrambled for safety amid rising global tensions.
Metals Soar in Single Session
Market participants reported a massive jump in silver prices. The metal gained a staggering Rs 10,000 in just one trading session. It closed at Rs 3,02,600 per kg. This was up sharply from its previous close of Rs 2,92,600 per kg.
Gold followed a similar upward trajectory in the local bullion market. The yellow metal climbed Rs 1,900 to reach a new lifetime peak. It touched Rs 1,48,100 per 10 grams. This price includes all applicable taxes. The previous session had seen gold at Rs 1,46,200 per 10 grams.
Year-to-Date Performance Shows Strong Gains
The rally this year has been remarkable for both metals. Silver has gained a massive Rs 63,600 since the start of 2026. This represents a jump of 26.61 percent. The metal was trading at Rs 2,39,000 per kg at the end of 2025.
Gold has also shown impressive strength. Since December 31, 2025, it has rallied by Rs 10,400. This translates to a gain of 7.55 percent. The price at the end of last year stood at Rs 1,37,700 per 10 grams.
Analysts Point to Global Uncertainty
Experts directly linked the sharp price increases to rising global uncertainty. Fresh tariff threats from US President Donald Trump played a key role.
Saumil Gandhi, Senior Analyst for Commodities at HDFC Securities, explained the situation. "Gold and silver surged to fresh record highs on Monday," he said. "Geopolitical tensions and escalating tariff-related uncertainty drove the rally. This followed President Trump's threat to impose additional tariffs on several European countries over the weekend."
International Markets Mirror Domestic Rally
The rally was not confined to Indian markets. Precious metals soared globally as well. Spot silver rose to a record USD 94.13 per ounce. Gold climbed to an all-time high of USD 4,690.80 per ounce. This data comes from forex.com.
Praveen Singh, Head of Commodities at Mirae Asset ShareKhan, provided further context. "Spot gold hit a fresh record high of USD 4,690 per ounce," he noted. "Safe-haven demand spiked after Trump announced a 10 percent tariff on eight EU nations. This was in retaliation for their opposition to his Greenland initiative."
Trump's Tariff Threats Fuel Market Fears
Over the weekend, President Trump issued a stark warning. He threatened to impose a 10 percent tariff starting February 1. The tariffs would target goods imported from several European countries. The list includes Denmark, Sweden, France, Germany, the Netherlands, Finland, the UK, and Norway.
The proposed tariff is set to rise to 25 percent from June 1, 2026. It would remain in force until an agreement is reached concerning Greenland.
Praveen Singh highlighted the broader implications of such moves. He noted that tariff-linked actions risk destabilizing long-standing geopolitical arrangements. They have also raised fears of retaliation by European nations. This adds significantly to global market uncertainty.
"This has pushed investors towards safe-haven assets," added Saumil Gandhi. "Tariff-related risks have come back into sharp focus for the markets."
Investors Seek Shelter in Volatile Times
The surge in gold and silver prices underscores a critical market trend. Precious metals are reacting swiftly to geopolitical and trade-policy signals. Investors are actively seeking protection. They are moving their money into assets perceived as safe. This shift comes amid renewed volatility in global financial markets.
