Gold and Other Precious Metals Rise Amid Venezuelan Events

Gold and other precious metals have seen a rise in prices as of Monday, driven by the ongoing events in Venezuela, which have stimulated an increase in demand for what are considered "safe haven" assets. The spot price of gold rose by 2.1% during trading, reaching $4,422 per ounce. Gold for February delivery traded on the Comex exchange rose by 2.4%, amounting to $4,433.3 per ounce.

Tim Waterer, an analyst at KCM Trade, commented, "Events in Venezuela have boosted demand for defensive assets as investors seek protection from geopolitical risks. Gold and silver have emerged as key beneficiaries." Since the start of 2025, gold has surged by 64%, marking the highest increase since 1979, amidst geopolitical tensions, declining interest rates, and strong demand from global central banks. On December 26, the price of the precious metal reached a record level of $4,549.71 per ounce.

In the market, silver prices have increased by 3.8%, reaching $75.33 per ounce. Over the past year, silver has risen by 2.5 times, recording its best yearly performance. On December 29, silver prices hit a record $83.62.

The spot price of platinum rose by 3.7% during trading, reaching $2,220.3, while palladium increased by 2%, reaching $1,671.7 per ounce.

As reported, U.S. special forces conducted an operation in Venezuela on January 3, arresting the country's president, Nicolás Maduro, and his wife. According to ABC News, Maduro is set to appear in a federal court in Manhattan, New York on Monday. He is expected to face charges related to the illegal trafficking of drugs, which could result in multiple life sentences. U.S. President Donald Trump announced on Saturday that the United States would temporarily take over the governance of Venezuela.