06.01.202604:00:09UTC+00Silver Extends Rally

Silver surged past $78 per ounce on Tuesday, marking its third consecutive session of gains and edging closer to record highs. The geopolitical tensions stemming from the US assault on Venezuela and the capture of its President, Nicolas Maduro, have heightened the appeal of safe-haven assets, bolstering demand for silver. Additionally, reports have surfaced that President Donald Trump has hinted at a potential second military intervention if Venezuela’s interim president, Delcy Rodriguez, fails to meet US demands. Meanwhile, investors are processing weaker-than-anticipated US manufacturing data and dovish remarks from a significant Federal Reserve figure concerning labor market vulnerabilities, all while anticipating a series of US employment reports slated for release this week. Nevertheless, the markets are currently anticipating an over 80% likelihood that the Federal Reserve will maintain interest rates later this month. The bullish run in silver is also being bolstered by worries about supply shortages and strong demand stemming from both industrial applications and investment activities.