Silver rate today, Jan. 23 -- Silver prices surged sharply on Friday, with MCX silver rate jumping nearly 4% to hit a fresh all-time high of Rs.3,39,927. The rally was driven by a weaker US dollar, rising geopolitical tensions, and renewed concerns over the Federal Reserve's independence, all of which helped push precious metals to record levels.

Gold prices also extended their upward momentum in the domestic market. MCX gold price climbed to its record high of Rs.1,59,226 per 10 grams, reflecting strong safe-haven demand.

In the international market, silver jumped 2.5% to $98.60 an ounce, while gold rose 0.4% to $4,956.08 an ounce. Platinum gained 0.5%, after earlier hitting a record high of $2,690.08 an ounce.

Silver and platinum bot...