Gold price rises after US captures Venezuela’s Maduro

Tuesday, 6 January 2026 02:51 - - {{hitsCtrl.values.hits}}

Precious metal prices and shares in defence stocks have risen after the US capture of Venezuelan President Nicolás Maduro increased investors’ concerns about geopolitical risks.

Gold was about 2.4% higher at $ 4,433 (£ 3,293) an ounce, while the price of silver was up by 4.9%, as money was moved into so-called “safe-haven” assets.

Defence stocks across Europe also rose in reaction to the weekend’s events in anticipation of higher spending on the military.

The price of oil was little changed, but shares in US energy companies rose in premarket trading on expectations they will get greater access to Venezuela’s oil reserves.

Prices of precious metals such as gold and silver often rise in times of uncertainty as they are seen as safer assets to hold. The gold price saw its best annual performance last year since 1979 after rising by more than 60%, reaching an all-time high of $ 4,549.71 on 26 December 2025.

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 yesterday as investors weighed whether Washington’s intervention in Venezuela would affect crude supplies. Brent crude was up just 0.5% at $ 61.06 a barrel as analysts said ample global supplies would offset any disruption.