Silver rate today: Silver prices surged sharply on Friday, with MCX silver rate jumping nearly 4% to hit a fresh all-time high of ₹3,39,927. The rally was driven by a weaker US dollar, rising geopolitical tensions, and renewed concerns over the Federal Reserve’s independence, all of which helped push precious metals to record levels.
Gold prices also extended their upward momentum in the domestic market. MCX gold price climbed to its record high of ₹1,59,226 per 10 grams, reflecting strong safe-haven demand.
In the international market, silver jumped 2.5% to $98.60 an ounce, while gold rose 0.4% to $4,956.08 an ounce. Platinum gained 0.5%, after earlier hitting a record high of $2,690.08 an ounce.
Silver and platinum both scaled fresh records as the US dollar index, a key measure of the greenback’s strength, fell 0.8% so far this week, making precious metals cheaper for buyers holding other currencies. Gold also remained firmly bid, with bullion prices climbing above USD 4,967 an ounce on Friday, putting the metal on track for a weekly gain of nearly 8%, supported by sustained dollar weakness.
On the geopolitical front, market sentiment was influenced by recent developments involving the US. While former President Donald Trump walked back earlier warnings of imposing trade tariffs on European nations, a separate agreement aimed at defusing the Greenland crisis included the stationing of US missiles on the island, granting mining rights, and strengthening the security presence of the North Atlantic Treaty Organization (NATO).
Investors are also closely watching developments around US monetary policy. Markets are awaiting Trump’s pick for the next Federal Reserve chair, after he said he has completed interviews and has a candidate in mind. Expectations of a more dovish Fed leadership have fuelled bets on further interest-rate cuts later this year, following three consecutive rate reductions. Such a scenario is typically supportive for non-yielding assets like gold and silver, adding further momentum to the ongoing rally in precious metals.
