Silver prices soar by Rs 3.4 lakh; gold hits Rs 1.6 lakh mark

January 23, 2026

Gold and silver surged to fresh highs on Friday, extending recent gains amid geopolitical tensions, a weaker US dollar, and expectations of Federal Reserve rate cuts at its upcoming January 27 meeting. Market uncertainty was also fueled by comments from US President Donald Trump on securing permanent US access to Greenland, though the deal’s details remain unclear and Denmark rejected any challenge to its sovereignty.

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