Gold prices advanced sharply on Monday, as heightened geopolitical risks following the United States’ weekend detention of Venezuelan President Nicolas Maduro drove investors toward safe-haven assets. Other precious metals also registered notable gains.
As of 2:23 P.M. (GMT+7), Spot gold was up 2.11% at $4,421.19 an ounce, reaching its highest level in a week. U.S. gold futures for February delivery climbed 2.28% to $4,428.50.
On Saturday, the U.S. apprehended Maduro in an operation that led to reported civilian casualties, sparking renewed safe-haven buying, with gold and silver among the clear beneficiaries as market participants seek protection from rising geopolitical unpredictability.
Last year, a mix of geopolitical unrest, interest rate reductions, robust central bank gold purchases, and inflows to exchange-traded funds fueled a 64% annual surge in bullion—its steepest increase since 1979. Gold touched an all-time peak of $4,549.71 on December 26, 2025.
Philadelphia Fed President Anna Paulson remarked over the weekend that additional central bank rate reductions could be delayed after last year’s substantial easing, though market participants continue to anticipate at least two further cuts from the U.S. Federal Reserve this year.
Silver prices rose 3.89% to $75.44 an ounce, following a record high of $83.62 set on December 29. In 2025, silver soared 147%, outpacing gold with its largest annual gain on record. The rally was underpinned by the U.S. classifying silver as a critical mineral and ongoing supply tightness amid robust industrial and investment demand.
Spot platinum increased 3.25% to $2,212.50 per ounce, following last Monday’s record peak of $2,478.50. It jumped over 5% during early Asian trade, reaching a one-week high. Palladium advanced 0.83% to $1,651.94 per ounce.
