Gold price rises after US captures Venezuela's Maduro

Precious metal prices have risen after the US capture of Venezuelan President Nicolás Maduro increased investors' concerns about geopolitical risks.

In Monday morning trade in Asia, gold was about 1.8 per cent higher at around $4,408 (£3,282) an ounce, while silver was up close to 3.5 per cent, as money was moved into so-called "safe-haven" assets.

Meanwhile, crude oil prices were little changed and share prices in the region were mostly higher.

Both gold and silver hit record highs in 2025 before losing ground in the last few days of the year.

Despite dipping at the end of last year, gold still saw its best annual performance since 1979 after rising by more than 60 per cent, reaching an all-time high of $4,549.71 on 26 December.

Those gains were driven by several factors including expectations of more interest rate cuts, major purchases of bullion by central banks and investor concerns about global tensions and economic uncertainty.

Oil fluctuated in early trade and was a little lower by mid-morning as investors weighed whether Washington's intervention in Venezuela would effect crude supplies.

US President Donald Trump has vowed to tap into Venezuela's vast oil reserves after seizing Maduro and said that the US will "run the country until such time as we can do a safe, proper and judicious transition".

But industry analysts have said the move is unlikely to have an immediate impact on how much people and businesses pay for energy.

Experts have also said it would cost billions of dollars to fix Venezuela's oil infrastructure, which has been in sharp decline since the early 2000s.

Venezuela's crude production has been "lacklustre" for years and now only accounts for around 1 per cent of global oil output, said investment strategist Vasu Menon from OCBC bank.