PRECIOUS METALS, January 5, 2026, 02:42 ET — Market closed
- COMEX silver futures were last up about 5.9% at $75.18 an ounce in overnight trade. 1
- A U.S. raid in Venezuela that captured President Nicolas Maduro lifted demand for safe-haven assets. 2
- Traders are watching U.S. factory data on Monday and the Jan. 9 jobs report for fresh clues on Fed policy. 3
Silver prices jumped in overnight trade on Monday after the United States captured Venezuelan President Nicolas Maduro, prompting fresh demand for safe-haven assets, which investors buy when risk rises. COMEX silver futures — traded on the U.S. metals exchange — were last up about 5.9% at $75.18 an ounce by 2:32 a.m. ET, after touching $76.05, Google Finance data showed. 1
The move matters because silver has become one of the market’s most volatile bellwethers after last year’s outsized rally. Spot silver ended 2025 up 147% and hit an all-time high of $83.62 on Dec. 29, Reuters reported. 2
Traders are also bracing for U.S. economic data that can reset expectations for the Federal Reserve’s next step. The week starts with the ISM manufacturing survey — a closely watched gauge of factory activity — and ends with Friday’s nonfarm payrolls report, the government’s monthly jobs snapshot, Reuters said. Silver does not pay interest, so lower-rate expectations tend to support bullion by reducing the opportunity cost of holding it. 3
“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, KCM Trade’s chief market analyst. 2
The bid spilled across the precious-metals complex. Gold futures were up 2.3% at $4,430.20, while platinum rose about 4.1% and palladium gained about 0.9%, Google Finance data showed. 1
Beyond geopolitics, silver’s longer-term rally has been supported by supply constraints against rising industrial and investment demand, Reuters reported. The metal was also propelled higher after being designated a critical U.S. mineral, Reuters said. 2
But the rally faces headwinds if the dollar’s rebound extends or if investors dial back bets on Fed easing. The dollar hit multi-week highs early Monday, and Philadelphia Fed President Anna Paulson said further rate cuts could be some way off after last year’s easing, Reuters reported. 3
In the next session, traders will watch whether silver can hold above $75 — a psychological level — and whether a retest of the $83.62 record comes back into view. The next major checkpoint is Friday’s employment report for December, due at 8:30 a.m. ET on Jan. 9, the Labor Department said. 2
After payrolls, markets turn to the U.S. consumer price index for December on Jan. 13 and the Fed’s Jan. 27-28 policy meeting, according to official calendars. For silver, Friday’s jobs number is the immediate test of whether the haven bid can stick. 4
