PRECIOUS-Gold rises over 1% as Maduro capture spurs safe-haven demand

Reuters
2026.01.05 01:56
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Gold prices rose over 1% following the U.S. capture of Venezuelan President Nicolas Maduro, which heightened geopolitical tensions and increased safe-haven demand. As of 0119 GMT, spot gold was up 1.5% at $4,395.35 per ounce, while U.S. gold futures for February delivery gained 1.8%. Other precious metals also surged, with silver rising 4.5% to $75.86 per ounce and platinum up 1.5% at $2,175.15 per ounce. The market anticipates at least two rate cuts by the U.S. Federal Reserve this year, further supporting non-yielding assets like gold and silver.

Jan 5 (Reuters) - 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.

FUNDAMENTALS

  • As of 0119 GMT, spot gold (XAU=) 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 (GCcv1) 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. (FEDWATCH)

  • 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 (XAG=) 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 (XPT=) 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 (XPD=) edged 0.4% higher to $1,645.0 per ounce.

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