By Blessing Nweke
Gold prices rose sharply on Monday after the United States captured Venezuelan President Nicolás Maduro, an event that heightened investor concerns about geopolitical risk and pushed money into so-called safe-haven assets.
In early Asian trading, gold was up about 1.8% at roughly $4,408 (£3,282) an ounce, while silver jumped nearly 3.5%. The gains came as investors sought protection from potential global instability following Washington’s dramatic intervention in Venezuela. By contrast, crude oil prices were little changed and most major share markets across the Asia-Pacific region traded higher.
Both gold and silver reached record highs in 2025 before retreating slightly toward the end of the year. Despite that late pullback, gold still posted its strongest annual performance since 1979, rising more than 60% and hitting an all-time high of $4,549.71 on December 26. Analysts say the surge was driven by expectations of further interest rate cuts, heavy central bank buying of bullion, and persistent worries over global economic uncertainty and geopolitical tensions.
Oil prices fluctuated in early trade as investors weighed whether U.S. action in Venezuela would disrupt crude supplies. President Donald Trump has said the U.S. intends to tap Venezuela’s vast oil reserves and will “run the country” during a transition period. However, analysts argue any impact on global energy prices is unlikely in the near term.
Venezuela’s oil infrastructure has deteriorated for decades, and production now accounts for only about 1% of global output, according to OCBC investment strategist Vasu Menon. Former BP chief executive Lord Browne said reviving the sector would require enormous investment and time, with output potentially falling before any recovery.
Meanwhile, Asia-Pacific share markets advanced. Japan’s Nikkei 225 climbed 2.6% on the year’s first trading day, while major indexes in South Korea and China also rose. Analysts said the gains reflected confidence that fallout from Venezuela would remain limited and were supported by a broader, AI-led rally in U.S. stocks.
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