Precious metal prices rose on Monday, led by gains in gold, as heightened geopolitical tensions following US actions in Venezuela boosted safe-haven demand.
Metal prices
Gold prices climbed 2.03% to $4,420.33 per ounce by early afternoon. Over the past 30 days, the yellow metal has gained 3.1%, adding nearly $130 per ounce as investors sought protection amid escalating geopolitical risks.
Gold recorded its strongest annual performance since 1979 in 2025, supported by rising geopolitical uncertainty and increased safe-haven demand linked to intensified US sanctions and pressure on Venezuela’s oil exports and government.
“The events in Venezuela have reignited safe-haven demand, with gold and silver among the key beneficiaries as investors look to hedge against geopolitical risk,” said Tim Waterer, chief market analyst at KCM Trade.
Silver rose 3.54% to $75.40 per ounce. The metal had briefly broken above the $80 mark last month before retreating during the early days of the new year.
Platinum gained 3.36% to $2,216 per ounce, while palladium increased 1.85% to $1,648 per ounce.
Analysts said precious metals could retain momentum into 2026, supported by expectations of US Federal Reserve interest rate cuts and continued global geopolitical uncertainty.
Geopolitical tensions
The rally followed reports that the United States conducted large-scale military strikes against Venezuela over the weekend and captured President Nicolas Maduro along with his wife, Cilia Flores, on January 3.
US President Donald Trump said Maduro is expected to face federal charges in court on Monday. Venezuela’s Vice President Delcy Rodríguez has assumed the role of acting president.
Venezuela declared a national emergency over the weekend, with officials accusing the US of targeting the country for its oil reserves. The latest developments follow months of escalating US sanctions and blockade measures against Venezuelan oil shipments and businesses linked to the Maduro government.
