Precious metal prices rallied sharply on Monday, extending last week’s gains as escalating geopolitical tensions triggered a strong move into safe-haven assets.
Gold prices climbed 2.26% to $4,425.23 per ounce at around 1:28 am ET, supported by heightened global uncertainty after the United States confirmed it had launched a military operation in Venezuela and captured Venezuelan President Nicolás Maduro over the weekend. The development has raised concerns over broader geopolitical fallout, boosting investor demand for defensive assets.
Silver outperformed the broader metals complex, surging 4.30% to $75.51 per ounce during early trading. The sharp move reflects both safe-haven buying and silver’s industrial demand profile, which often amplifies price swings during periods of global stress.
Other precious metals also traded higher. Platinum rose 1.93% to $2,182.08 per ounce, while palladium gained 1.31% to $1,638.48 per ounce shortly after 1:29 am ET.
Market participants are closely monitoring geopolitical developments, particularly in Latin America and the Middle East, as well as any potential spillover effects on global trade, energy markets, and financial stability. With risk sentiment turning cautious, precious metals continue to attract inflows as investors seek protection against volatility.
The latest rally underscores the sensitivity of commodity markets to geopolitical shocks, with gold and silver once again reaffirming their role as key hedges during periods of heightened global uncertainty.
