WASHINGTON (dpa-AFX) - Gold prices catapulted steeply on Monday as investors rushed to safe-haven investments following the swift U.S. military offensive in Venezuela on Saturday that resulted in the capture of the country's president and his wife.
Front Month Comex Gold for January delivery zoomed by $122.50 (or 2.84%) to $4,436.90 per troy ounce.
Front Month Comex Silver for January delivery leapfrogged by $5.6080 (or 7.95%) to $76.164 per troy ounce.
On January 3, U.S. forces carried out a 'large-scale strike' on Venezuela and captured its long-serving President Nicolas Maduro and his wife Cilia Flores and flew them out of the country to face criminal charges in the U.S.
The operation, dubbed 'Absolute Resolve,' ended the regime of the 63-year-old dictator who had been in power since 2013. Notably, Iran, Russia, and Cuba have condemned the operation.
Currently, vice-president Delcy Rodriguez is handling the administration. President Donald Trump emphasized on Sunday that if the present leadership does not cooperate with the U.S. efforts, he could order another strike.
Trump has been accusing Maduro's regime of fostering narco-trading which penetrates into the U.S. causing an opioid crisis.
Maduro, who had been rebutting these allegations, counter-claimed that Trump's administration wants to usurp the oil reserves in Venezuela and called for U.N. intervention.
Of note, Venezuela holds the world's largest 'extra-heavy crude' oil reserves.
Venezuelan crude exports increased in 2025 to 900,000 barrels per day. The country also holds vast natural gas reserves.
In March 2020, U.S. prosecutors indicted Maduro on 'narco-terrorism' charges.
Trump also threatened Colombia and Mexico that they may suffer the same fate if they fail to contain the illicit drug flow into the U.S.
Just before the New Year, China conducted simulated military exercises around Taiwan and experts are apprehensive that China could carry out an operation similar to what the U.S. did in Venezuela.
In Europe today, even while Ukraine and its allies are attempting to speed up the U.S.-mediated ceasefire plan to end the Russia-Ukraine war, Russia launched fresh aerial strikes on Ukrainian capital.
Prior to this, on Sunday, Ukrainian drone targeted Russia's border regions.
Last week, Trump issued a stern warning to Iran that he will back an Israeli strike if Iran attempts to resume its nuclear programs.
Trump also threatened the Palestinian Hamas militant group to adhere to their commitment as per Gaza Peace Plan to disarm or they would have to pay the hell.
Geopolitical tensions, one following the other in the recent days, have spooked investors towards a 'flight to safety' in the yellow metal.
In 2025, gold exhibited its greatest performance since 1979 by rising above 60% and reaching an all-time high in December.
In the U.S., the Institute for Supply Management's Manufacturing PMI revealed a fall for the third consecutive month to 47.9 in December 2025. For the same period, while the employment gauge inched higher to 44.9, new orders increased to 47.70 points in December from 47.40 points in November.
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