Silver retraces down on margin hike pressure AUGMONT BULLION REPORT

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4 days ago

January 2, 2026

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Following a parabolic run that saw silver reach a high of $84. on December 29, the market had a severe correction, losing more than 15% of its value in just 48 hours.
The upheaval started in earnest during the holiday-shortened trading week in late December. On December 26, 2025, the CME Group published Advisory No. 25-393, which raised the initial margin for March 2026 silver futures from $22,000 to $25,000.
The CME Group acted again, seeing a potential systemic danger as volatility indicators reached levels not seen in almost a decade. On December 30, 2025, the exchange announced a second, harsher raise, increasing margins by 30% to $32,500 per contract.
When the New York floor opened on the last day of the year, a tsunami of forced liquidations had hit the tape. Investors who had entered the market at $80 were confronted with margin calls they could not satisfy, triggering a cascade sell-off those wiped billions of dollars in paper riches in a matter of hours.

Technical Triggers

Gold prices are expected to consolidate in the range of $4320 (~Rs 134,000) and $4420 (~Rs 137,000) after this sharp rally and sell off this week.
Silver prices are expected to consolidate between $70 (~Rs 223,000) and $76 (~Rs 242,000), after the sharp rally and sell off this week.

Support and Resistance

Metal	Market	Support Level	Resistance Level
Gold	International	$4300 / oz	$4420 / oz
Gold	India	₹134,000 / 10 gm	₹137,000 / 10 gm
Silver	International	$70 / oz	$76 / oz
Silver	India	₹223,000 / kg	₹242,000 / kg

Source: AUGMONT BULLION REPORT

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MCX silver prices rally amid escalating US-Venezuela tensions

Geopolitical Shock and Supply Fears Ignite Silver’s Sharp Rally Across Global and MCX Markets

Published

24 hours ago

January 5, 2026

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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.