Gold rose more than 1% on Monday, while other precious metals also climbed after the United States arrested Venezuelan President Nicolás Maduro over the weekend, escalating geopolitical tensions and boosting demand for safe-haven assets.

As of 01:19 GMT, spot gold was up about 1.5% at $4,395.35 per ounce, its highest level in more than a week. The metal hit a record $4,549.71 per ounce on Dec. 26, 2025.

U.S. gold futures for February delivery rose 1.8% to $4,405.40.

Gold made significant gains in 2025, ending the year up 64% - its largest annual increase since 1979 - driven by interest rate cuts, safe-haven demand and inflows into exchange-traded funds.

Investors currently expect the Federal Reserve to cut interest rates at least twice this year.

Nicolas Maduro. (AFP)

The United States arrested Maduro last Saturday in an operation that reportedly resulted in civilian casualties, while U.S. President Donald Trump said Washington would take control of the country.

However, Vice President Delcy Rodríguez assumed the role of interim president with the backing of Venezuela’s Supreme Court, saying Maduro remains the country’s president.

Non-yielding assets such as gold tend to perform well in low interest rate environments and during periods of geopolitical or economic uncertainty.

Among other precious metals, spot silver jumped 4.5% to $75.86 per ounce after reaching an all-time high of $83.62 on Dec. 29. Silver ended the year up 147%, far outpacing gold and marking its best year on record.

Silver has surged to record levels due to its designation as a critical U.S. metal and supply constraints amid rising industrial and investment demand.