Silver price in dollars under pressure: 80 mark in the crosshairs – Venezuela uncertainty as stabilizer

The silver quotes are moving in the Asian trading session around the $80.15 level after buyers have significantly eased off in recent days. The current consolidation reflects less fundamental weakness and more tactical retreat ahead of a series of economic data releases – the ISM Services Index on Wednesday and December employment statistics on Friday are the critical dates. At the same time, the silver price in dollars is supported by several pillars: geopolitical turbulence around Venezuela and ongoing speculation about Federal Reserve interest rate cuts. ## Hedging sales drive the downward movement The silver price in dollars has become susceptible to profit-taking after the recent upward move. Market participants reduced positions before the macroeconomic week gains momentum. The ISM Services PMI is expected as the first sentiment indicator; afterward, focus shifts to the end-of-year employment data. These two anchor points are enough to warn speculative capital to exercise caution. ## Interest rate expectations form the second pillar of price support Downside risks are limited by persistent market expectations. According to CME FedWatch data, market participants are pricing in about an 82% chance that the Fed will keep interest rates stable at the January 27/28 meeting. This scenario – combined with classic safe-haven buying – helps prevent the silver price in dollars from collapsing. An analyst from the AktivTrades platform summarizes it concisely: Defensive demand meets rate-cut fantasies. ## Geopolitics intensifies flight to safe havens The Venezuela situation acts as a catalyst for increased demand for traditional crisis assets. The US conducted a large-scale military operation on Saturday and announced that Venezuela’s President Nicolás Maduro and his wife had been arrested and taken out of the country. Maduro asserted his innocence in a US court on Monday in a case involving narco-terrorism components. This escalation fuels defensive positioning – indirectly supporting commodities like silver. ## The NFP data as a turning point The key date falls on Friday with the US employment report. The consensus expectation is 55,000 new jobs in December; the unemployment rate could fall to 4.5% (November: 4.6%). If the statistics turn out significantly stronger than expected, it would trigger a dollar rally – and short-term pressure on the silver price in dollars. Until then, the market remains in a wait-and-see mode.