Mumbai, Jan 4 (NationPress) Global markets are poised to kick off the first complete trading week of 2026 with heightened anxiety following a significant geopolitical upheaval in Venezuela, a nation rich in the world’s largest oil reserves.

Investor attention has rapidly shifted towards safe-haven assets such as gold and silver, while oil prices are projected to rise due to concerns over potential supply interruptions.

Market sentiment has turned cautious after US forces apprehended Venezuelan President Nicolás Maduro and his spouse during a military operation over the weekend.

The US has leveled drug trafficking charges against them, intensifying tensions in an already delicate region. This incident is perceived as a significant geopolitical event likely to disturb energy markets and heighten the demand for secure assets as the year commences.

Gold commenced 2026 on a robust footing, climbing over 1 percent to trade near $4,370 per ounce, buoyed by geopolitical uncertainties and predictions that US interest rates may relax later this year.

Silver also experienced a surge exceeding 2 percent, nearing $73 per ounce, supported by a weak dollar, supply shortages, and increasing industrial demand.

Nevertheless, both metals encountered profit-taking on a weekly basis following last year’s notable surge. COMEX gold fell nearly 5 percent, while silver declined over 8 percent as higher margin requirements compelled some traders to reduce their positions.

In the domestic market, MCX Gold futures experienced a sharp drop at the week’s onset, marking their most significant single-day decline in two months.

Since that point, prices have fluctuated within a narrow range. Analysts suggest that gold may rebound if prices remain above critical support levels; however, a prolonged dip below these levels could incite further corrections.

Oil prices also began the year on a positive trajectory, with WTI crude closing the week near $57.3 per barrel. Oil endured a rough 2025, with prices plummeting nearly 20 percent due to oversupply apprehensions.

However, escalating tensions in Venezuela alongside renewed Russia–Ukraine strikes on energy infrastructure have raised the risk premium.

Market participants are now focused on the forthcoming OPEC+ meeting on January 4, where the group is anticipated to maintain its current stance on supply increases.

Base metals showed resilience as the year commenced, continuing their momentum from the previous year. Copper prices approached record highs, while aluminum surpassed $3,000 per tonne for the first time since 2022. Strong demand from Asian exchanges has bolstered prices globally.