New Delhi, Jan. 5 -- The ongoing crisis involving Venezuela is unlikely to have a significant impact on global prices of gold, silver and crude oil, as the country has already been under sanctions for several years and plays a limited role in formal global supply chains, experts said while reacting to the recent US-Venezuela developments.

Ajay Bagga, banking and market expert, told ANI that Venezuela's economic relevance to the global system has reduced sharply over the past decade due to prolonged sanctions.

He said, "Infact, Venezuela's GDP has fallen from USD 350 bn in 2012 to USD 80 bn in 2025 as a result of sanctions. In a USD 116 trillion world economy, this is not a material number at all. On Oil, despite its huge reserves, the o...