Silver prices witnessed an extraordinary spike following the announcement of the landmark India-EU trade deal. During a single trading session on the Multi Commodity Exchange (MCX), silver surged by ₹30,122 per kg in just 250 minutes, translating to a rise of over ₹120 per minute. Earlier in January, silver traded at ₹1,29,120 per kg, but prices have now soared to ₹3,64,821 per kg, reflecting a historic rally.

The momentum comes as global silver prices surpassed $110 per ounce, alongside the impact of Trump-era tariffs and a weakening US dollar, which have boosted demand for precious metals. Analysts predict that silver could soon approach ₹4 lakh per kg in India.

Gold also saw remarkable gains during the session. MCX gold prices climbed ₹3,783 per kg, reaching a lifetime high of ₹1,59,820 per kg. In international markets, spot gold prices rose to $5,087.48 per ounce, while European and UK markets also recorded steady gains, with gold trading at 4,286.06 euros per ounce and £3,719.14 per ounce, respectively.

Experts attribute the rise in both metals to safe-haven demand amid global uncertainties and favorable currency fluctuations. With investor sentiment strong, gold and silver prices are expected to continue their upward trajectory in the near term.