Gold price rises after US capture of Venezuelan president

Gold () futures opened at $4,368.30 per troy ounce on Monday, up 0.9% from Friday’s closing price of $4,329.60. The price of gold rose above $4,400 in early trading.

Heightened geopolitical risk after a US strike in Venezuela supported gold demand. The United States captured Venezuelan President Nicolás Maduro and his wife, transporting them to New York to face charges related to drug trafficking and gang management. Leaders of Cuba, Russia and Iran criticized the attack. President Trump then declared that the United States would rule Venezuela and take over the country’s oil assets.

Geopolitical tensions and wars generally increase demand for gold, a safe haven. In this case, higher gold demand coincides with a stronger US dollar. After a decline of more than 9% in 2025, the US dollar index () has gained 0.37% so far in 2026.

The opening price of gold futures on Monday increased 0.9% from Friday’s close. Here’s a look at how gold’s opening price has changed over the past week, month and year:

• A week ago: -0.1%

• A month ago: +3.9%

• A year ago: +64.3%

Gold’s one-year gain on December 29 was 74.5%.

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The price of gold can be quoted in several forms because the precious metal is traded in different ways. The two main gold prices that investors should be aware of are spot prices and gold futures prices.

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The spot price of gold is the current market price per ounce for physical gold as a commodity, sometimes called spot gold. Gold ETFs backed by physical gold assets generally track the spot price of gold.

The spot price is lower than what you would pay to buy gold coins, bars or jewelry because your total price will include a markup called a gold premium that covers refining, marketing, dealer overhead and profit. The spot price is more like a wholesale price, and the spot price plus the gold premium makes up the retail price.

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Gold futures are contracts that mandate a transaction in gold at a specific price on a future date. These contracts are exchange-traded and more liquid than physical gold. They are paid on or before the expiry date of the contract, either financially or by delivery. A financial cash settlement involves paying in cash the profit or loss of the contract. Delivery means the seller sends physical gold to the buyer at the contract price.

Supply and demand determine gold spot prices and gold futures prices. Factors that influence the supply and demand of gold include:

1. Geopolitical events

2. Central Bank Buying Trends

3. Inflation

4. Interest rate

5. Mining production

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Whether you’ve been tracking the price of gold for the last month or last year, the gold price chart below shows the steady rise in the value of the precious metal.