Silver rate today Live: Following the escalation in the US-Venezuela conflict, silver rates today opened with an upside gap in the international market and touched an intraday high of $75.968 per ounce, logging a near 6% intraday gain against the previous close. Following the US attack on Venezuela, the market is anticipating disruptions in silver exports from Peru and Chad, the two largest silver exporters in the global merchandise trade, according to experts.
Experts believe the demand-supply gap is expected to further fuel silver prices, and the white metal may soon reach $78 per ounce. However, they maintained that the probability of a profit trigger at higher levels is also present and advised investors to maintain strict stop-losses and levels that would play a pivotal role in the movement of silver rates today.
Speaking on the outlook of silver rates today, Anuj Gupta, Director at Ya Wealth, said, “Silver price today is in a bull trend as the market is under the fear of demand-supply constraint caused by the US-Venezuela conflict. Following the US attacks on Venezuela, Peru and Chad — two major silver exporters in the global market — may struggle to export the white metal with ease. In that case, demand for the white metal may not be met. Thus market is discounted on that demand-supply gap.”
Anuj Gupta of Ya Wealth said that COMEX silver prices are expected to touch $78 per ounce and there can be some profit-booking around these levels.
US-Venezuela conflict: How it unfolded
In an unprecedented move that stunned the entire world, the United States (US) attacked Venezuela on Saturday morning last week and abducted President Nicolas Maduro. President Donald Trump announced the successful operation on his social media handle, Truth Social, and said, “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!”
