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Gold prices climb amid geopolitical tensions
(MENAFN) Gold prices jumped 2.1% on Monday, reaching $4,421 per ounce as of 07:20 GMT, up roughly $90 from Friday’s close, amid heightened geopolitical concerns.
The spike comes in the wake of the US military operation in Venezuela over the weekend, which resulted in the capture of President Nicolas Maduro and his wife, who were flown to the US to face criminal charges. Combined with President Donald Trump’s recent threats toward other countries, the situation has fueled global uncertainty, boosting demand for safe-haven assets like gold.
Gold had already been experiencing record-setting gains in recent months due to dovish expectations from the US Federal Reserve and increased central bank purchases. The recent geopolitical developments added further upward pressure on the metal, following last month’s record high of $4,525.96 per ounce.
Silver also saw a sharp rise, climbing 3.94% to $75.50 per ounce on Monday.
The surge in precious metals reflects investors’ growing preference for stability amid mounting international tensions and uncertainty in global markets.
The spike comes in the wake of the US military operation in Venezuela over the weekend, which resulted in the capture of President Nicolas Maduro and his wife, who were flown to the US to face criminal charges. Combined with President Donald Trump’s recent threats toward other countries, the situation has fueled global uncertainty, boosting demand for safe-haven assets like gold.
Gold had already been experiencing record-setting gains in recent months due to dovish expectations from the US Federal Reserve and increased central bank purchases. The recent geopolitical developments added further upward pressure on the metal, following last month’s record high of $4,525.96 per ounce.
Silver also saw a sharp rise, climbing 3.94% to $75.50 per ounce on Monday.
The surge in precious metals reflects investors’ growing preference for stability amid mounting international tensions and uncertainty in global markets.
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