TLDR
- Gold prices rose more than 2% on Monday following the capture of Venezuelan President Nicolas Maduro by U.S. forces during a weekend raid in Caracas
- Maduro was taken into custody and transported to the U.S. to answer longstanding criminal charges, marking the most direct American intervention in Venezuela in decades
- President Trump stated the U.S. intends to “run” Venezuela and demands “total access” to the nation, including its oil reserves
- Gold hit $4,432 per ounce, while silver climbed nearly 5%, as investors turned to safe-haven assets amid geopolitical uncertainty
- Gold soared over 60% in 2025, reaching a record high of $4,549.71 per ounce before profit-taking caused prices to drop
Gold prices rose over 2% on Monday after a U.S. military operation led to the capture of Venezuelan President Nicolas Maduro. The weekend raid in Caracas represented the most direct U.S. intervention in the South American country in decades.
Spot gold was up 2.4% at $4,432.12 per ounce during European trading hours. U.S. gold futures for March delivery rose 2.7% to $4,444.30.
Silver prices rose even more, climbing nearly 5% in the same timeframe. Platinum and palladium also saw gains as investors shifted into precious metals.
While everyone is focused on oil:
Venezuela currently holds 161 metric TONS of gold reserves.
161 metric tons is roughly 5.18 million troy ounces, worth ~$22 BILLION at $4,300/oz.
This makes Venezuela the Latin American country with the largest gold holdings.
Every $100 that…
— The Kobeissi Letter (@KobeissiLetter)
U.S. officials confirmed Maduro was detained during the operation and taken to the U.S., where he now faces longstanding pending criminal charges.
President Donald Trump called the capture a “decisive step” against what he termed a criminal regime. Trump said the U.S. would ensure a “safe and orderly transition” in .
U.S. Plans Extended Role in Venezuela
Trump added that the U.S. intends to “run” Venezuela after Maduro’s ouster, stressing that Washington needs “total access” to the country, including its extensive oil reserves.
Venezuela has the world’s largest proven oil reserves, but years of international sanctions and underinvestment have sharply cut the country’s oil production capacity.
Uncertainty about Venezuela’s short-term crude supply increased market volatility, with investors evaluating potential impacts on energy markets and regional stability in Latin America.
Thomas Mathews, Head of Markets for Asia Pacific at Capital Economics, stated that near-term economic and financial effects seem small, but he noted geopolitical consequences could be significant and might keep risk premiums high for some regional assets.
Christopher Wong, an analyst at Oversea-Chinese Banking Corp in Singapore, said the incident heightened geopolitical uncertainty but noted developments suggest a relatively quick resolution rather than a lengthy military conflict.
already had strong momentum going into 2025. The precious metal soared over 60% last year, hitting a record high of $4,549.71 per ounce before heavy profit-taking pushed prices down.
The metal has since rebounded and is still near peak levels. Gold had its best annual performance since 1979, setting multiple records during the year.
Central bank purchases and inflows into bullion-backed exchange-traded funds supported gold. Three interest rate cuts by the Federal Reserve also benefited precious metals, which don’t yield interest.
Goldman Sachs Group predicts gold could hit $4,900 per ounce this year, assuming further Federal Reserve rate cuts and changes to the central bank’s leadership under Trump.
Former Treasury Secretary Janet Yellen warned Sunday about long-term risks from growing federal debt, stating that preconditions for fiscal dominance—where the size of debt leads the central bank to keep rates low to reduce servicing costs—are becoming stronger.
