Spot Silver soared more than 4% on Monday, extending Friday’s gain, as US-led capture of Venezuelan President Nicolas Maduro triggered a rush into safe-haven assets.
US President Donald Trump said over the weekend that the US would temporarily “run” the government in Venezuela, hours after he ordered a large-scale military operation, which according to media reports, resulted in Maduro’s capture.
“The kidnapping of a foreign head of state naturally leads to high degrees of instability, and in this environment, gold and silver are viewed as a solid hedge against uncertainty,” KCM Trade’s chief market analyst Tim Waterer was quoted as saying by Reuters.
Last year, Silver demonstrated a stellar performance, driven by its designation as a critical US mineral and amid supply tightness. Silver scaled a record high of $83.62/oz. on December 29th. The white metal also registered its best annual performance on record in 2025, gaining 147%.
Investor focus now sets on the US data string, including ISM Manufacturing PMI, ADP employment figures, job openings as well as Friday’s Non-Farm Payrolls report for December, which may provide more clues on the health of the economy and the Fed’s monetary policy trajectory.
FOMC policy makers signaled just one 25 bps rate cut for 2026, while investors continue to expect two or three rate cuts of 25 basis points each.
Spot Silver was last up 4.47% on the day to trade at $76.05 per troy ounce.
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