Gold, Silver Jump as Venezuela Tensions Add to Geopolitical Risk
(Bloomberg) -- Gold and silver advanced, with investors weighing heightened geopolitical risks following the US capture of Venezuelan leader Nicolás Maduro.
Spot gold rose as much as 2.9% on Monday, climbing above $4,455 an ounce, while silver gained 6%. President Donald Trump said the US plans to “run” Venezuela after ousting Maduro over the weekend, leaving the future governance of the South American nation uncertain. He said Washington required “total access” to the country, including its oil reserves.
The episode “reinforced a backdrop of geopolitical uncertainty,” said Christopher Wong, an analyst at Oversea-Chinese Banking Corp. in Singapore. Gold often rallies as geopolitical tensions spike, although the effect is often short-lived.
In addition to events in Venezuela, Trump also used the weekend to restate his ambitions for Greenland, part of NATO-ally Denmark’s territory.
https://finance.yahoo.com/news/gold-jumps-haven-demand-us-014410498.html