Trump Tariff Delay Fuels Silver Rally to All-Time High

COMMODITIES

Overview

Silver prices surged to a record $92.165 per ounce Wednesday as uncertainty over President Donald Trump's tariff policy and geopolitical tensions drove investors toward safe-haven assets. The US Supreme Court's delay in ruling on tariff authority added to market jitters, with experts forecasting further gains for the precious metal.

Regulatory Uncertainty

Silver prices shot up on Wednesday, crossing the $92 per ounce mark to reach a fresh all-time high. This surge was significantly fueled by the US Supreme Court's decision to delay its ruling on President Donald Trump's tariff policy. The court's inaction on January 14, 2026, created immediate market jitters, pushing investors towards perceived safe-haven assets like silver.

Geopolitical Jitters

On the COMEX, silver futures for March 2026 contracts jumped more than 5% to trade at $90.753 per ounce. The metal's daily trading session saw it touch a high of $92.165 per ounce, a significant 6.7% increase from its previous close of $86.338. This rally extends to India, where MCX silver prices surged 4.49%, adding ₹12,362 per kg to reach ₹287,549 per kg.

Expert Outlook

Market watchers attribute the rally not only to policy uncertainty but also to robust demand and long-term confidence in precious metals. Alex Ebkarian, Chief Operating Officer at Allegiance Gold, noted a structural bull phase for silver, with prices potentially reaching $100 to $144 in the short term. Geopolitical tensions, including Iran's warnings regarding US troop presence and renewed discussions about Greenland's control, further amplify fears of global instability, bolstering demand for silver as a safe store of value.

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