The prices of precious metals rallied after the U.S. announced that it had captured Nicolas Maduro, the president of Venezuela. This rally was triggered by investor worries about the geopolitical implications of that event.
In Asia, gold gained 1.8% to sell at approximately $4,408 per ounce. Silver rose by approximately 3.5% as investors transferred their money to “safe haven” assets. The price of crude oil largely remained unchanged though the share prices of oil companies traded a little higher.
This latest rally in precious metals comes on the backdrop of the record gains seen in 2025, though silver and gold back-tracked a little as the year came to a close. That dip notwithstanding, gold recorded an unprecedented rally that saw its price climb by 60% during the calendar year, something that had never been seen since 1979. Its peak was reached on December 26 when the precious metal reached $4,549.
The rally was largely fueled by a combination of factors that included large central bank purchases, concerns about geopolitics, economic uncertainty and interest rate reductions in the U.S. and other major economies.
The price of oil on global markets fluctuated as the week started as traders considered how the events in Venezuela could impact supplies of crude oil. By and large, the consensus now seems to be that global supplies of oil are unlikely to be affected, at least in the short term, by the capture of Nicolas Maduro.
It is noteworthy that President Trump was quick to reveal that America plans to tap the immense oil reserves in Venezuela and that the U.S. intends to run the country until a judicious and safe transition of power is conducted there.
Experts say the cost of fixing the oil infrastructure in Venezuela is likely to require billions of dollars in investment since the oil industry’s infrastructure in the country has seen a rapid decline for more than two decades. The decline has been so remarkable that oil exports from the country now account for a paltry 1% of global supplies. Ramping up production will therefore be no mean task.
In the Asia-Pacific region, stock markets registered gains, riding on factors that were unrelated to what happened in Venezuela. For example, the Nikkei 225 in Japan gained 2.6% as data in the country revealed that stability had been restored to the manufacturing sector. Indices in China and South Korea also edged higher.
As markets absorb the recent events in Venezuela, gold traders and investors will keep a close eye on any emerging geopolitical impacts, especially the reactions of Russia and China. Major gold producers like Platinum Group Metals Ltd. (NYSE American: PLG) (TSX: PTM) are also likely to assess this evolving situation and how it may affect the market for gold.
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