Gold prices jumped in Asian trading on Monday following a U.S. military operation in Venezuela that resulted in the capture of President Nicolás Maduro, prompting a fresh bout of safe-haven buying.

Spot gold was last up 1% at $4,374.92 an ounce by 18:59 ET (00:59 GMT). U.S. Gold Futures for March delivery rose 0.8% to $4,381.10.

Risk appetite was hit after U.S. officials confirmed that Maduro had been detained during a weekend raid in Caracas and flown to the United States to face longstanding criminal charges.

The operation marked the most direct U.S. intervention in Venezuela in decades and triggered condemnation from several countries, while investors assessed the implications for energy markets and regional stability.

President Donald Trump said in a statement that the capture of Maduro was a “decisive step” against what he described as a criminal regime, adding that the U.S. would ensure a “safe and orderly transition” in Venezuela.

Venezuela holds the world’s largest proven oil reserves, but years of sanctions and underinvestment have sharply curtailed output. U.S. actions raised uncertainty over the country’s near-term crude supply.

For gold, the escalation added to an already supportive backdrop. Bullion has been buoyed by expectations of U.S. interest rate cuts later this year, persistent central-bank buying, and lingering concerns over global growth.

In other precious metals, Silver prices gained 2.4% to $74.32 per ounce, while platinum futures climbed 3.1% to $2,209.60/oz.

Courtesy : Investing.com