Silver futures jumped 3 percent and gold futures rose nearly 2 per cent on Monday as investors turned to safe-haven assets during the Venezuela crisis.
Commodity markets reacted sharply after the United States captured Venezuelan President Nicolas Maduro and his wife, escalating geopolitical tensions. Silver March futures traded at Rs 2,44,083 per kg, while gold February futures stood at Rs 1,37,796 per 10 grams. Analysts highlighted that silver could move toward Rs 2,46,000–Rs 2,55,000, while gold may accelerate toward Rs 1,40,000–Rs 1,45,000 if prices break key resistance levels.
Aamir Makda, Commodity and Currency Analyst at Choice Broking, explained that the naval blockade of Venezuelan tankers created immediate shortages for Gulf Coast refineries. He described the event as a tactical accelerator for gold, though he emphasised that medium-term trends remain tied to Federal Reserve policy.
Brent crude prices slipped 0.21 per cent to $60.64 a barrel. Kaynat Chainwala of Kotak Securities noted that OPEC+ output stability and limited damage to Venezuelan oil infrastructure capped the risk premium. She added that Venezuela’s small share of global supply reduced the immediate impact on crude markets.
Makda pointed out that Venezuela currently produces 800,000 to 1.1 million barrels per day, about 1 per cent of global supply. He warned that the blockade could cut exports to China by up to 50 per cent, creating logistical challenges and squeezing heavy-sour crude quality.
Stephen Dover of Franklin Templeton Institute said U.S. intervention in Venezuela aligns with its long-standing Monroe Doctrine policy. He cautioned that despite Venezuela’s vast reserves of over 300 billion barrels, poor infrastructure and low-quality crude mean political stability will not quickly boost exports.
