New York, Jan 5, 2026, 13:38 EST — Regular session
- Silver-linked funds and miners rose sharply as investors rushed into precious metals.
- Traders are looking to U.S. jobs and inflation data this week for the next steer on interest rates.
Shares of iShares Silver Trust (SLV) rose 5.7% to $69.49 in Monday afternoon trading. Spot silver jumped 6% to $76.99 an ounce after U.S. strikes in Venezuela revived demand for safe-haven assets, while markets also weighed expectations for U.S. rate cuts later this year. “The situation around Venezuela has clearly reactivated safe-haven demand,” said Alexander Zumpfe, a precious metals trader at Heraeus Metals Germany. 1
The move matters because silver has become a quick-read barometer for macro risk at the start of 2026. When investors turn cautious, they often buy “safe-haven” assets—holdings seen as more resilient during shocks—to reduce exposure to riskier markets.
Silver also carries an extra layer: it is both a precious metal and an industrial input. That dual role can magnify swings when headlines collide with shifting expectations for growth and interest rates.
SLV is a bullion-backed trust designed to reflect the price of silver and it trades on NYSE Arca like an exchange-traded fund, or ETF—an investment vehicle bought and sold on an exchange like a stock. For investors who do not want to handle physical metal or futures mechanics, it is a direct way to express a view on the silver price. 2
The jump also pushed key chart levels back onto screens. Silver has already shown it can move quickly, hitting an all-time high of $83.62 recently, Reuters reported. 3
That backdrop helps explain why silver-sensitive stocks can react violently to fresh demand. Silver gained 161% in 2025, breaking $80 an ounce for the first time, with analysts pointing to supply constraints and low inventories alongside strong demand. 4
For traders, the next question is whether Monday’s spike turns into sustained buying or a one-day scramble. Precious metals do not pay interest, so they often find support when bond yields fall and investors see a lower cost to holding them.
But the downside risk is clear after a rally that has pulled in fast money. A quick easing in Venezuela tensions or U.S. data that pushes yields higher could trigger profit-taking and a pullback in silver-linked shares.
The next catalysts are scheduled. The U.S. employment report for December is due on Friday at 8:30 a.m. ET, followed by the December consumer price index on Jan. 13—two releases that could reset expectations for the Federal Reserve’s rate path. 5
