US Action Sparks Global Tensions Again... Silver Jumps 13,000, Gold Rises 2,400
US Action Sparks Global Tensions Again: Gold and silver prices saw a crash at the end of last year (2025), but now in the new year (2026), they are once again showing a surge. On Monday, the first trading day of the week, at the opening of the Multi Commodity Exchange (MCX), the price of silver rose by more than ₹13,000, and gold was not far behind, with the gold rate increasing by more than ₹2,400 at the opening. The increased global tension due to the US action against Venezuela has had a direct impact on gold and silver prices.
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Silver Prices Rise by ₹6,000
On Monday, at the start of futures trading on the MCX, the price of silver with a March 5th expiry suddenly started rising at a rapid pace. The price of 1 kg of silver closed at ₹2,36,316 on Friday, the last trading day of the previous week, and on the first day of the week, it jumped to the level of ₹2,49,900. According to this, silver became ₹13,484 more expensive in a single day.
Silver Still Cheaper Than its High
Despite the strong surge on Monday, silver is still trading significantly below its all-time high. It is worth noting that at the beginning of this year, it had surged to the level of ₹2,54,174 per kilogram. Compared to this high level, futures silver on the MCX is still ₹4,274 cheaper. What's the reason for the surge in gold and silver prices?
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Whenever global tensions rise, investors tend to flock to safe havens, and gold and silver are considered the safest. Typically, in such situations, the increased demand for these two precious metals leads to a sharp rise in their prices. Now, the actions taken by the US against Venezuela have increased global tensions, and consequently, gold and silver have suddenly become more expensive.
Price increase was anticipated
It's worth noting that when the US launched strikes against Venezuela a few days ago, experts began predicting the impact on gold and silver prices. Last week, Anuj Gupta, Director of Ya Wealth, stated that the US attack on Venezuela had further increased geopolitical tensions, which would be reflected in the commodity market on Monday. This could lead to a significant surge in the prices of precious commodities traded in the market. He predicted that gold, silver, copper, crude oil, and gasoline would start the week with a strong upward trend, and that's exactly what happened.
Summary
It's noteworthy that the US first launched airstrikes on several targets in Venezuela and then, through a military operation, arrested the country's president, Nicolas Maduro, and his wife. Venezuelan Defense Minister General Vladimir Padrino López claimed that a large part of Maduro's security team was also eliminated in the US attack operation, codenamed "Operation Absolute Resolve."
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