Gold rose more than 1% on Monday, while other precious metals surged after the United States captured Venezuelan President Nicolas Maduro over the weekend, escalating geopolitical tensions and lifting safe-haven demand.
As of 0119 GMT, spot gold was up 1.5% at $4,395.35 per ounce, climbing to a more than one-week high. Bullion hit a record high of $4,549.71 on December 26, 2025.
U.S. gold futures for February delivery gained 1.8% to $4,405.40.
Bullion staged a stellar rally in 2025, ending the year up 64%, its biggest annual gain since 1979, driven by interest rate cuts, safe-haven demand, and inflows into exchange-traded funds.
Investors currently expect at least two rate cuts by the U.S. Federal Reserve this year.
The U.S. captured Maduro on Saturday, in an operation that reportedly caused civilian deaths, while U.S. President Donald Trump said Washington would take control of the country.
Vice President Delcy Rodriguez, however, has taken over as interim leader with the backing of Venezuela’s top court and said that Maduro remains president.
The operation was Washington’s most controversial intervention in Latin America since the invasion of Panama 37 years ago.
Non-yielding assets tend to do well in a low-interest-rate environment and during times of geopolitical or economic uncertainty.
Spot silver added 4.5% to $75.86 per ounce, after hitting an all-time high of $83.62 on December 29. Silver ended the year surging 147%, far outpacing gold, in what was its best year ever on-record.
Silver was propelled to fresh highs by its designation as a critical U.S. mineral, supply constraints amid rising industrial and investment demand.
Spot platinum was up 1.5% at $2,175.15 per ounce, after rising to an all-time high of $2,478.50 last Monday. It rose more than 5% earlier in the session to a one-week high.
Palladium edged 0.4% higher to $1,645.0 per ounce.
