Gold Surges Above $4,400 per Ounce Amid Escalating Venezuela Crisis

Gold prices climbed more than 1% to exceed $4,400 per ounce in today's trading, continuing the positive momentum from the end of last week. The surge came as geopolitical tensions rose sharply after unexpected events in Venezuela, boosting demand for safe-haven assets.

The main support for gold followed U.S. President Donald Trump's announcement of a military operation that led to the ousting of Venezuelan President Nicolás Maduro.

Washington indicated plans for a temporary administration of Venezuelan affairs, fueling concerns over wider instability in Latin America.

To address these worries, the U.S. Secretary of State clarified that efforts would focus on increasing pressure through the oil sector rather than direct governance.

Meanwhile, investors are closely monitoring key U.S. economic data this week, especially the non-farm payrolls report, which is seen as a critical indicator for the Federal Reserve's interest rate decisions and the near-term outlook for gold. Last year, gold posted its strongest annual performance since 1979, driven by rising hedging demand, U.S. monetary easing, robust central bank purchases, and strong inflows into gold-backed ETFs.