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.
- A U.S. raid in Venezuela that captured President Nicolas Maduro lifted demand for safe-haven assets.
- Traders are watching U.S. factory data on Monday and the Jan. 9 jobs report for fresh clues on Fed policy.
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.
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.
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.
“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. Reuters
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.
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.
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.
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.
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.
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