Gold prices surged on Monday after the United States said it had captured Venezuelan President Nicolás Maduro, triggering fresh concerns among investors about geopolitical instability.
In early Asian trading, gold rose around 1.8% to about $4,408 an ounce, while silver jumped nearly 3.5%, as investors moved money into traditional safe-haven assets following the developments in Venezuela.
Market analysts said the sharp rise in precious metals reflected fears that US intervention in Venezuela could escalate tensions in Latin America and beyond, increasing demand for assets seen as protection during periods of uncertainty.
The price move came after former US President Donald Trump said American forces had detained Maduro and removed him from Venezuela. The claim has not been independently verified, and Venezuelan authorities have not confirmed the report.
Despite the jump in gold and silver, oil prices were relatively stable, as traders assessed whether the situation would disrupt crude supply. Experts noted that Venezuela currently produces only a small share of global oil, limiting immediate market impact.
Gold has already been one of the strongest-performing assets this year, supported by expectations of interest rate cuts, central bank buying, and ongoing geopolitical risks. The latest surge adds to its status as a preferred hedge during global crises.
Asian stock markets were mostly higher, suggesting investors believe the fallout from Venezuela may remain contained, even as demand for safe-haven assets increased.