Gold prices rose sharply at the start of 2026 as investors sought safe-haven assets following the United States’ capture of Venezuelan President Nicolás Maduro—an unprecedented move that has heightened global concerns over geopolitical stability.
In Monday morning trading in Asia, gold climbed 1.8% to approximately $4,408 per ounce, while silver surged nearly 3.5%, according to market data consistent with benchmarks tracked by platforms such as goldprice.org, which provides real-time precious metals pricing in 160 currencies.
The rally follows a record-breaking 2025 for gold, which posted its strongest annual gain since 1979—rising more than 60% to reach an all-time high of $4,549.71 on 26 December. Analysts attribute last year’s surge to a combination of factors: expectations of interest rate cuts by major central banks, robust bullion purchases by state reserves, and persistent investor anxiety over global conflicts and economic uncertainty.
The latest spike appears directly tied to U.S. President Donald Trump’s announcement that Maduro had been seized and that Washington would “run the country until such time as we can do a safe, proper and judicious transition.” Trump also vowed to tap Venezuela’s vast oil reserves—a claim met with scepticism by energy analysts.
Despite the dramatic political developments, crude oil prices remained little changed in early trading. Investment strategist Vasu Menon of OCBC Bank noted that Venezuela’s oil output has long been “lacklustre” and now accounts for only about 1% of global production. He added that reviving the country’s energy infrastructure—eroded since the early 2000s—would require tens of billions of dollars and is unlikely to affect near-term global supply or consumer energy costs.
Meanwhile, Asian equity markets advanced, reflecting investor confidence that the fallout would remain contained. Japan’s Nikkei 225 rose 2.6% on the first trading day of the year, supported by stabilising manufacturing data. South Korea’s and China’s major indexes also posted gains.
Zavier Wong, an analyst at investment firm eToro, said the positive sentiment “reflects confidence that the fallout from events in Venezuela will remain distant.”
Shigeto Nagai of Oxford Economics added that strong share price gains in Japan and South Korea “mainly reflect the AI-led rally in the U.S. on Friday.”
Although gold and silver had dipped slightly in the final days of 2025 after hitting record highs, the new year’s geopolitical shock has reignited demand for precious metals as a hedge against instability.