Gold rises on Monday

Gold and other precious metals surged on Monday as geopolitical tensions in Venezuela drove safe-haven demand. Spot gold rose 2.2 per cent to $4,424.17 per ounce, reaching a one-week high, while US February gold futures gained 2.4 per cent to $4,434.20.

Silver climbed 3.9 per cent to $75.50, platinum rose 3.9 per cent to $2,226.24, and palladium added 1.6 per cent to $1,664.40. Analysts said geopolitical instability, along with expectations of US interest rate cuts and strong central bank purchases, continues to support bullion prices, which recorded historic annual gains in 2025.

Vice President Delcy Rodriguez has assumed interim leadership in Venezuela, while investors await US non-farm payroll data on Friday for further indications of potential Fed rate cuts.

Attribution: Reuters