Gold jumps to one-week high after US strike on Venezuela
Gold hit a one-week high after the US strike in Venezuela lifted safe-haven demand, with investors watching Friday’s US jobs report and Fed rate-cut bets
Global gold prices climbed to a one-week high on Monday, January 5, 2026, after the United States’ strike in Venezuela boosted demand for safe-haven assets, Reuters reported.
Spot gold jumped 2.7% to US$4,444.52 an ounce by 1.38pm ET (6.38pm GMT), after earlier touching its highest level since December 29, 2025. Gold had previously set an all-time high of US$4,549.71 on December 26, 2025.
US gold futures for February delivery settled 2.8% higher at US$4,451.5 an ounce.
Alexander Zumpfe, a precious metals trader at Heraeus Metals Germany, said the Venezuela situation had clearly revived safe-haven demand, adding to existing concerns over geopolitics, energy supply and monetary policy.
Gold surged 64% in 2025, supported by geopolitical tensions and the Federal Reserve’s rate-easing cycle. Expectations of further rate cuts, alongside central bank buying and ETF inflows, also helped propel prices.
Reuters noted the US attack in Venezuela and the removal of President Nicolás Maduro on Saturday, January 3, 2026, marked Washington’s most direct intervention in Latin America since the 1989 invasion of Panama. Trump also warned of further action if Caracas resisted US plans to open up the oil industry and curb drug trafficking, while signalling possible moves involving Colombia and Mexico.
Gold is traditionally seen as a store of value and tends to benefit in a low-rate environment because it does not pay interest.
Other precious metals
Silver jumped 5.2% to US$76.37 an ounce. Spot platinum rose 5.9% to US$2,269.55, while palladium gained 3.4% to US$1,694.75.
Morning update (Tuesday, January 6, 2026)
Bloomberg reported spot gold edged up 0.1% to US$4,451.22 an ounce at 7.15am Singapore time, while silver slipped 0.4% to US$76.27. Platinum and palladium were little changed, and the Bloomberg Dollar Spot Index ended the previous session down 0.1%. Investors were turning their attention to key US data due this week, led by Friday’s December jobs report.
