Silver prices today jumped to an intraday high of ₹2,49,900 per kg on Monday, January 5, rising by around ₹13,500 as against Friday’s close of ₹2,36,316 per kg, on Multi Commodity Exchange (MCX), after the United States captured Venezuelan President Nicolas Maduro, spurring safe-haven demand and fears of supply disruptions.
In the international markets, silver rates opened with an upside gap and climbed to an intraday peak of $75.968 per ounce, registering nearly a 6% gain from the previous close.
Experts noted that after the US attack on Venezuela, markets are factoring in potential disruptions to silver shipments from Peru and Chad, the world’s two largest silver exporters in global merchandise trade.
On the silver price outlook today, Ponmudi R, CEO of Enrich Money, said that the MCX Silver is trading near ₹2,45,275, extending its recovery after recent volatility. “The bullish channel remains intact, with every dip attracting buying interest. A sustained move above ₹2,42,000 strengthens the upside bias, opening the path toward ₹2,46,000– ₹2,55,000,” he opined.
US-Venezuela conflict details
In a shocking and unprecedented development that reverberated globally, the United States carried out an attack on Venezuela last Saturday morning and abducted President Nicolás Maduro.
“The United States of America has successfully carried out a large-scale strike against Venezuela and its leader, President Nicolas Maduro, who has been, along with his wife, captured and flown out of the Country. This operation was done in conjunction with U.S. Law Enforcement. Details to follow. …… Thank you for your attention to this matter!” said Donald Trump in a post on Truth Social.
Is it the right time to invest in silver?
Ponmudi of Enrich Money further said that the ongoing scenario favours more profit booking, as the white metal has remained highly volatile.
“The overall structure continues to favour accumulation over profit-booking, positioning silver as a high-volatility yet high-reward companion to gold within the ongoing bullion bull cycle,” Ponmudi said.
Meanwhile, Amit Goel of Pace 360 believes that exchanges are expected to raise margin money, which we saw last week when CDE (Chicago Derivatives Exchange) raised margin money for silver by 25%, due to a rise in the silver prices at an alarming level.
“I am expecting white metal movement both ways, and investors are expected to book profit at short targets,” Goel said.
Technical Outlook
According to Ponmudi of Enrich Money, a sustained move above ₹2,42,000 strengthens the upside bias, opening the path toward ₹2,46,000– ₹2,55,000. Strong support is seen in the ₹2,42,000– ₹2,40,000 zone.
Meanwhile, for Comex Silver, the metal is trading well above the 20-day EMA at $67.80, keeping the broader uptrend firmly intact, he said.
“COMEX Silver has advanced toward $75.40 after rebounding sharply from year-end lows below $73, which were triggered by margin adjustments and thin liquidity. Resistance is now placed in the $76–$80 zone, while medium-term projections for 2026 continue to eye $90–$100, supported by structural demand from renewables, EVs, and technology sectors. Immediate support at $70–$68 offers attractive accumulation opportunities on corrections,” he added.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
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