Spot silver jumped 4.4% to $75.82 per ounce, after hitting a record $83.62 an ounce on December 29, 2025.
“The events in Venezuela have reignited safe-haven demand, with gold and silver among the beneficiaries as investors look to protect against geopolitical risks,” said Tim Waterer, chief market analyst at KCM Trade.Vice President Delcy Rodriguez has assumed the role of interim leader, though Maduro is reported to remain president. Market participants said the developments in Venezuela have heightened geopolitical risk, encouraging investors to seek refuge in precious metals.
Monetary policy expectations have also supported bullion.Federal Reserve Bank of Philadelphia President Anna Paulson said that further rate cuts may not be immediate, though markets continue to price in at least two cuts later this year. Non-yielding assets such as gold and silver tend to perform well in low-interest-rate environments and amid geopolitical uncertainty.
Precious metals closed 2025 on a record note, with gold surging 64%, its biggest annual gain since 1979, supported by robust central bank purchases and inflows into exchange-traded funds.
Silver outpaced gold with a 147% rise, driven by its designation as a critical US mineral, supply constraints, and rising industrial and investment demand.
Analysts said investors will closely watch upcoming US economic data, including non-farm payrolls due Friday, for further cues on potential Fed policy moves, which are likely to influence bullion prices in the near term.
–With agencies inputs
