The ounce price of gold rose by 2.1% on Monday compared to the last week amid geopolitical issues. The price of gold was $4,421 as of 0720GMT, increasing by around $90 per ounce from Friday to Monday. Tensions between the US and Venezuela have escalated to a new level, following Washington’s military operation on Saturday, with the country’s leader Nicolas Maduro and his wife “captured” and flown to the US to face criminal charges. The US raid on Venezuela and President Donald Trump’s threats against other countries have heightened geopolitical concerns globally, leading to increased demand for gold. The price of gold, recently hitting record highs one after another due to “dovish” expectations toward the US Federal Reserve and other central bank purchases, has also increased amid geopolitical risks following the steps taken by the US. Last month, gold rose to a record $4,525.96 per ounce. Silver’s price also rose by 3.94%, hitting $75.5 per ounce on Monday.

Gold prices rose sharply on Monday, gaining 2.1 percent amid heightened geopolitical tensions that pushed investors toward safe-haven assets.

The price of gold reached $4,421 per ounce at around 07:20 GMT, up by approximately $90 compared to Friday’s close. The increase comes as global markets react to rising political and military uncertainty, particularly following recent developments involving the United States and Venezuela.

Tensions escalated after Washington reportedly carried out a military operation in Venezuela over the weekend, with President Nicolas Maduro and his wife allegedly detained and taken to the United States to face criminal charges. These events, along with President Donald Trump’s renewed threats toward other countries, have intensified geopolitical concerns.

Gold has already been trading at elevated levels in recent weeks, supported by expectations of a more accommodative stance from the US Federal Reserve and continued purchases by central banks. The latest geopolitical developments have added further upward pressure on prices.

Last month, gold reached a record high of $4,525.96 per ounce.

Silver prices also posted significant gains, rising 3.94 percent to $75.5 per ounce on Monday, reflecting increased demand for precious metals amid market uncertainty.

Source: AA