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Gold prices jumped in Asian trading on Monday after a U.S. military operation in Venezuela led to the capture of President Nicolás Maduro, triggering a sharp increase in safe-haven buying as investors reacted to rising geopolitical uncertainty.
Spot gold climbed 2.2% to $4,422.92 an ounce by 01:41 ET (06:41 GMT), while U.S. gold futures for March delivery rose 2.4% to $4,433.10.
The advance comes after gold soared more than 60% in 2025 and touched a record high of $4,549.71 an ounce toward the end of the year. Heavy profit-taking that followed briefly pressured prices, but bullion has since rebounded and is now trading close to those historic peaks.
U.S. operation in Venezuela jolts markets
Risk appetite weakened after U.S. officials confirmed that Maduro was detained during a weekend raid in Caracas and transported to the United States to face longstanding criminal charges. The move marked the most direct American intervention in Venezuela in decades and drew condemnation from several governments, as markets assessed potential consequences for regional stability and global energy flows.
President Donald Trump described the operation as a “decisive step” against what he called a criminal regime, saying Washington would support a “safe and orderly transition” in the country. Venezuela holds the world’s largest proven oil reserves, but years of sanctions and underinvestment have constrained production, and the latest developments added uncertainty around near-term crude supply.
For gold, the escalation reinforced an already positive environment. Bullion remains supported by expectations of further U.S. interest-rate cuts later this year, continued central-bank purchases, and ongoing concerns about global economic momentum.
Broader metals rally alongside gold
Strength extended across the wider metals complex. Silver jumped more than 4% to $76.32 per ounce, while platinum climbed over 5% to $2,143 per ounce.
Industrial metals also advanced, with benchmark copper futures on the London Metal Exchange rising 3% to $12,874.20 a ton, and U.S. copper futures gaining 3% to $5.89 a pound as investors rotated into commodities amid heightened geopolitical risk.
