Gold prices jumped in Asian trading on Monday following a U.S. military operation in Venezuela that resulted in the capture of President Nicolás Maduro, prompting a fresh bout of safe-haven buying.
Spot gold was last up 2.2% at $4,422.92 an ounce by 01:41 ET (06:41 GMT). U.S. Gold Futures for March delivery jumped 2.4% to $4,433.10.
Gold prices surged over 60% in 2025, reaching a record high of $4,549.71/oz during the year-end, but heavy profit-taking after that weighed on bullion. Prices have rebounded since then, and are not far from peak levels.
US attacks Venezuela, captures Maduro Risk appetite was hit after U.S. officials confirmed that Maduro had been detained during a weekend raid in Caracas and flown to the United States to face longstanding criminal charges.
The operation marked the most direct U.S. intervention in Venezuela in decades and triggered condemnation from several countries, while investors assessed the implications for energy markets and regional stability.
President Donald Trump said in a statement that the capture of Maduro was a “decisive step” against what he described as a criminal regime, adding that the U.S. would ensure a “safe and orderly transition” in Venezuela.
Venezuela holds the world’s largest proven oil reserves, but years of sanctions and underinvestment have sharply curtailed output. U.S. actions raised uncertainty over the country’s near-term crude supply.
For gold, the escalation added to an already supportive backdrop. Bullion has been buoyed by expectations of U.S. interest rate cuts later this year, persistent central-bank buying, and lingering concerns over global growth.
Metal markets upbeat Other precious and industrial metals also traded sharply higher on Monday, hovering near record highs.
Silver prices jumped over 4% to $76.32 per ounce, while platinum climbed over 5% to $2,143/oz.
Benchmark Copper Futures on the London Metal Exchange rose 3% to $12,874.20 a ton, while U.S. Copper Futuresalso advanced 3% to $5.89 a pound.
