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Gold Prices Climb 2.1 Percent Amid US-Venezuela Tensions
(MENAFN) Gold prices jumped 2.1% on Monday, extending last week’s rally as geopolitical turmoil drove investors toward safe-haven assets.
At 0720 GMT, the metal traded at $4,421 per ounce, up roughly $90 since Friday. The surge followed a dramatic escalation in tensions between Washington and Caracas. Over the weekend, the United States launched a military operation in Venezuela, during which President Nicolas Maduro and his wife were “captured” and flown to the US to face criminal charges.
The raid, combined with President Donald Trump’s warnings directed at other nations, has intensified global unease and fueled demand for gold.
The precious metal has repeatedly set new records in recent months, buoyed by “dovish” expectations surrounding the US Federal Reserve and heavy central bank buying. Last month, gold touched an all-time high of $4,525.96 per ounce.
Silver also rallied, climbing 3.94% to $75.5 per ounce on Monday.
At 0720 GMT, the metal traded at $4,421 per ounce, up roughly $90 since Friday. The surge followed a dramatic escalation in tensions between Washington and Caracas. Over the weekend, the United States launched a military operation in Venezuela, during which President Nicolas Maduro and his wife were “captured” and flown to the US to face criminal charges.
The raid, combined with President Donald Trump’s warnings directed at other nations, has intensified global unease and fueled demand for gold.
The precious metal has repeatedly set new records in recent months, buoyed by “dovish” expectations surrounding the US Federal Reserve and heavy central bank buying. Last month, gold touched an all-time high of $4,525.96 per ounce.
Silver also rallied, climbing 3.94% to $75.5 per ounce on Monday.
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