Silver hits an all-time high of $94 an ounce amid geopolitical tensions

The spot silver hit an all-time high of $94 an ounce in the international spot market on the potential acquisition of Greenland by the U.S. and the EU threat to suspend the trade deal. An ounce is about 28.3 grams.

The white metal opened $93.3 and touched a high of $94.09 an ounce before closing at $93.5 an ounce on January 19. The white metal doubled since April 2025 in the wake of its demand in globally and strategically important industries like semiconductors. Gold too rallied, hitting an all-time high of ₹4,690 an ounce. So far, gold has hit more than 50 all-time highs in the past year alone, according to a research report from Tata Asset Management Company.

On the MCX–India’s metal exchange–too Gold and Silver topped ₹1,45,000/10 grams and ₹3,04,000/kg respectively.

“The move followed President Trump’s renewed push for the U.S. to acquire Greenland, accompanied by threats of progressively higher tariffs on European allies until such a deal is permitted. In response, European officials are considering retaliatory measures, including tariffs on U.S. imports and the EU’s anti-coercion instrument, set to be discussed at an emergency summit in Brussels on Thursday,” said Kaynat Chainwala, AVP Commodity Research, Kotak Securities

Metal prices have increasingly become a popular investment avenue due to the global uncertainty-induced increase in their prices. Indian mutual fund holders had also started gravitating to exchange-traded funds with silver and gold as assets, going by AMFI data in December 2025.

Some experts, however, warn that the metals could be up for correction this calendar year as they have rallied enough. Others bet on the increasing geopolitical tensions to drive safe-haven demand. To be sure equity returns in the past half-year has been flat primarily because of the foreign investor exit.