(Kitco Commentary) - Precious metals posted substantial gains Monday as heightened geopolitical tensions following the weekend capture of Venezuelan President Nicolas Maduro by United States forces sparked a flight to safe-haven assets. Gold futures surged 2.83 percent, adding $121.90 to settle at $4,451 as of 3:49 PM ET, marking the yellow metal's first advance in 2026 and breaking a four-session losing streak that had weighed on prices since the new year began.
The dramatic escalation in U.S.-Venezuelan relations unfolded Saturday when American forces reportedly captured Maduro in an operation that Venezuelan officials claim resulted in civilian casualties. Vice President Delcy Rodriguez has assumed responsibilities as interim leader while maintaining that Maduro retains his presidential status, a situation that has injected considerable uncertainty into regional stability and amplified demand for traditional safe-haven investments.
The risk-off sentiment reverberated across the entire precious metals complex, with silver demonstrating particularly robust gains. Silver futures climbed an impressive 6.80 percent, rising $4.82 to trade at $75.85, though prices moderated from intraday highs of $77.83 reached earlier in the session.
Platinum similarly participated in the rally, advancing 5.70 percent or $121.90 to reach $2,259. The synchronized strength across gold, silver, and platinum underscores the breadth of safe-haven buying, with all three metals now trading in proximity to the record highs established during the final days of 2025.
New all-time highs seem to be in store for 2026 especially for silver which not including this month has now had seven consecutive monthly gains.
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