Silver prices spurt to Rs 2.65 lakh per kg amid Trump tariffs-induced uncertainties

On the Multi Commodity Exchange, silver for March delivery increased Rs 252 to Rs 2,65,585 per kilogram in a business turnover of 6,002 lots.

New Delhi: Silver prices rose 0.09 per cent to Rs 2.65 lakh per kg in the futures trade on Tuesday, amid global uncertainties following Trump tariffs.

On the Multi Commodity Exchange, the white metal for March delivery increased Rs 252, or 0.09 per cent, to Rs 2,65,585 per kilogram in a business turnover of 6,002 lots.

In the overseas market, Comex silver futures increased USD 1.3, or 1.52 per cent to USD 87.8 per ounce.

Silver rallied after US President Donald Trump threatened to lift global tariffs from 10 per cent to 15 per cent in response to the Supreme Court's ruling. The 10 per cent tariff comes into effect from Tuesday.

"The shifting policy stance fuelled concerns that existing trade deals could unravel, though major trading partners have so far maintained their agreements with Washington. Trump also warned of steeper duties on countries that "play games" with current trade arrangements," Jigar Trivedi, Senior Research Analyst at Indusind Securities, said.