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05.01.202602:04:58UTC+00Silver Rallies on Venezuela News

Silver prices surged by nearly 4% to approach $76 per ounce on Monday, building on gains made in the previous trading session. This increase follows geopolitical tensions heightened by the United States attacking Venezuela and the subsequent arrest of President Nicolas Maduro over the weekend. Such developments have amplified the demand for safe-haven assets like silver. Over the weekend, President Trump announced that the United States intends to oversee Venezuela until a suitable political transition occurs. However, Secretary of State Marco Rubio indicated that Washington possesses the influence needed to attain its goals without directly ruling the nation.

This week, investors are also closely monitoring crucial U.S. economic indicators, particularly the December jobs report set for release on Friday, to gain insights into the Federal Reserve's future policy decisions. Throughout the previous year, silver prices soared by nearly 150%, driven by factors such as supply limitations, strong industrial and investment demand, and favorable macroeconomic conditions. Additionally, China, the source of 60-70% of global refined silver, has implemented export restrictions this year, further aggravating the existing structural deficit.

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