Silver rates today on MCX opened with a big upside gap and touched an intraday high of Rs. 2,49,900 per kg, logging an intraday rise of around 13,500 against Friday’s close of Rs. 2,36,316 per kg. Silver saw a 6% gain internationally at $75.968 per ounce This surge reflects safe-haven demand and fears of supply disruptions.

Silver opened with an upside gap due to anticipated export hurdles from Peru, a top silver ore exporter ($477M in 2023). Recent trends show silver rising 30% monthly and 152% yearly, fueled by green energy demand and supply constraints. Experts predict COMEX silver could reach $78 per ounce before profit-booking\Support levels stand at $70–$68, with upside potential to $80 if tensions persist.

The crisis reached a dramatic peak last week when US forces launched a large-scale strike on Venezuela, resulting in the capture of President Nicolás Maduro and his wife, Cilia Flores. President Donald Trump announced the operation’s success on Truth Social, describing it as a joint military and law enforcement effort that swiftly removed the leaders from the country.

The raid followed months of mounting pressure, including prior strikes on alleged drug-trafficking vessels and a buildup of US forces in the region. Maduro, now in US custody and facing narco-terrorism charges, is expected in a New York court soon, while Venezuela’s vice president has assumed interim leadership amid ongoing uncertainty.