Gold and Silver Deliver Massive Returns, Markets Watch Venezuela Developments Closely

Gold and silver delivered bumper returns to investors last year, with gold gaining about 73.45 percent and silver surging nearly 164 percent. Amid these strong gains, global geopolitical developments have now brought fresh focus on the future direction of precious metal prices.

Following recent US actions against Venezuela, questions have emerged over the near-term impact on gold, silver, and crude oil prices. Market experts believe that while short-term volatility is possible, there may not be an immediate or major impact on global markets.

Gold and silver prices are expected to open slightly higher, supported by ongoing uncertainty. Analysts say future price movements will largely depend on central bank buying, ETF inflows, global tensions, the US dollar, interest rate trends, and supply-demand dynamics.

Silver prices, after a brief correction, are rebounding due to Chinese export restrictions and rising industrial demand. JP Morgan forecasts that gold could reach $5,400 per ounce and silver $100 per ounce by the end of the year. Meanwhile, crude oil prices are expected to remain stable, with Brent currently trading around $60.75 per barrel.