Gold and silver surged to record highs after U.S. President Donald Trump threatened new tariffs on several European countries over Greenland, driving investors toward safe-haven assets. Gold climbed above $4,700 per ounce, while silver crossed $94, both setting new all-time highs as the dollar weakened amid escalating trade tensions.
Gold and silver surged to record highs after U.S. President Donald Trump threatened new tariffs on several European countries over Greenland, driving investors toward safe-haven assets. Gold climbed above $4,700 per ounce, while silver crossed $94, both setting new all-time highs as the dollar weakened amid escalating trade tensions.
India is a major force backing silver’s rally. The country imported $5.9 billion worth of silver in just four months, a 400% increase from late 2024 and a 64% jump above its previous annual record set in 2022.
Demand is coming from jewelry buyers, physical bar investors, and industrial users tied to electronics and solar manufacturing. From 2013 to 2019, India’s annual silver imports averaged roughly $1.5 billion. This year’s pace has already blown past that level.
The surge is spilling into equities. India’s Nifty Metal Index posted its strongest opening quarter since 2018, sharply outperforming the broader Nifty 50. The metals-to-main-index ratio has reached its highest level in 11 years as well.
While metals rallied, Bitcoin moved in the opposite direction. BTC slipped to around $91,000, down nearly 2% over the past 24 hours, as risk appetite cooled across crypto markets.
Short-term structure now depends on the $94,000 resistance zone. are watching whether Bitcoin can reclaim that level and push toward the $100,000 mark, or face another rejection that could send the price back toward $88,000 liquidity.
The current setup points to a retest of the $94,000 area either way. Staying above that zone keeps the upside path toward six figures open. While current market conditions favor safe assets like metals, a recent poll by analyst PlanB found that over 70% of participants expect to reach a new ATH in 2026-27.
However, economist Peter Schiff remains bearish. He said that Bitcoin will face a situation similar to silver’s, but in the opposite way. He that silver’s skyrocketing prices will lead to Bitcoin’s catastrophic collapse.
