Gold Prices 5 January 2026 climbed sharply across global markets as geopolitical uncertainty spiked following the U.S. military intervention and capture of Venezuelan President Nicolás Maduro late last week. Spot gold jumped more than 2 % on Monday, trading above $4,420 per ounce in early European sessions — a near-term high and a strong rebound from last week’s dip — as investors rushed into safe-haven assets amid elevated risk sentiment and macroeconomic jitters. Spot silver also surged, gaining roughly 4–6 % and trading near $75 per ounce in international markets, reflecting a broader precious-metals rally on Monday. Precious metals are widely seen as a hedge against political turmoil and market volatility in the wake of the heightened tensions.
The immediate catalyst for this gold and silver rally has been the geopolitical shock emanating from Venezuela’s crisis — particularly the controversial U.S. action that resulted in Maduro’s capture — which reignited safe-haven demand across asset classes. Analysts noted that spot gold, which recorded its best annual performance since 1979 in 2025, was trading at premium levels relative to recent weeks as traders sought refuge from risk-off sentiment. The sharp uptick in bullion coincides with expectations that U.S. macroeconomic indicators and Federal Reserve policy — including potential further interest rate cuts later this year — could continue to support non-yielding assets like gold and silver. Gold’s appeal in times of heightened uncertainty stems from its historical role as a store of value, especially when geopolitical risk premiums rise faster than expected.
Market reactions show a broader pattern beyond bullion. In India and other major markets, gold prices rebounded from recent losses, with local rates for 24-karat and 22-karat gold rising significantly in cities like Mumbai, Delhi and Chennai. On the Multi Commodity Exchange (MCX), gold futures climbed by more than ₹2,000 per 10 grams, and silver futures rallied by around Rs 9,900 per kilogram, highlighting global spillovers from the increased safe-haven buying. This broad-based surge reflects how commodities traders are pricing in sustained geopolitical risk — not only in bullion but across related markets as investors adjust portfolios for uncertainty.
Beyond precious metals, the broader market environment remains mixed. While safe-haven demand lifted gold and silver, crude oil prices have experienced downward pressure as traders balanced short-term supply dynamics against long-term expectations for Venezuelan oil output, which remains suppressed after years of underinvestment but could see future changes depending on political outcomes. Meanwhile, equities in defensive sectors such as defense contractors and mining stocks have also shown strength, indicating a bifurcated market where risk assets and safe havens are reacting differently to geopolitical developments.
Analysts say volatility is likely to persist through the coming week as investors digest key macroeconomic data — including the U.S. non-farm payrolls report and inflation releases — alongside ongoing geopolitical developments stemming from Venezuela and other global hotspots. The interplay between risk-off sentiment and monetary policy expectations, such as further Federal Reserve rate cuts, could continue to underpin elevated gold prices in the near term. Some market strategists even see gold testing upside resistance near $4,500 per ounce if safe-haven flows remain robust, while silver’s trajectory could see similar upside pressure toward $78–$80 per ounce if demand holds above key support levels.
In summary, gold prices on January 5, 2026 surged against a backdrop of escalating geopolitical risk related to U.S. actions in Venezuela, triggering renewed safe-haven buying that lifted both gold and silver. With markets poised to respond to economic data and ongoing uncertainty, precious metal prices are likely to remain in focus for investors seeking defense against volatility in the days ahead.
This article reflects the most recent available data and verified market developments as of January 5, 2026.
