Safe-haven assets, including gold and the US dollar, gained further traction after the United States’ capture of Venezuelan leader Nicolas Maduro, while the Chinese yuan remained relatively resilient despite the stronger dollar.
The spot gold price rose to more than US$4,420 per ounce early on Monday morning, before edging down to US$4,402 per ounce by midday, according to financial data provider Wind.
Meanwhile, the US dollar index rose to 98.76 from 98.41 at the start of trading on Monday.
The gains in safe-haven assets followed US President Donald Trump’s move to seize Maduro and his wife in large-scale American strikes on Caracas over the weekend.
Gold prices had already risen to record highs in 2025, gaining more than 60 per cent amid heightened geopolitical tensions, large-scale purchases by central banks, widespread expectations of further US Federal Reserve rate cuts, and waning confidence in the dollar as concerns over US debt sustainability deepened.
The Chinese yuan remained resilient despite pressure from a stronger US currency on Monday morning, with the offshore yuan trading at 6.978 per US dollar as of midday – remaining above the psychologically critical mark of 7 per US dollar.
