Gold prices rose in the first trading session of the week, while other precious metals also simultaneously rose, as demand for safe-haven assets increased amid complex geopolitical developments in Latin America.
As of this afternoon's trading session, spot gold prices increased by 1.8%, to 4.424.20 USD/ounce - the highest level in a week. Gold futures for February delivery in the US increased by 2.3%, reaching 4.430.85 USD/ounce.
According to Mr. Tim Waterer, chief market analyst at KCM Trade, new developments in Venezuela have caused shelter demand to return, in which gold and silver are assets that are clearly benefiting when investors seek to preserve value from geopolitical risks.
The upward momentum of gold prices is also supported by many fundamental factors such as the low interest rate environment, persistent buying pressure from central banks and strong capital flow into precious metal ETF funds. Last year, gold prices increased by 64% - the strongest annual increase since 1979 and set a record high of 4,549.71 USD/ounce on December 26, 2025.
Speaking last weekend, Chairman of the Philadelphia Federal Reserve, Ms. Anna Paulson, said that the possibility of further interest rate cuts in the near future may not be clear, after a period of strong monetary easing last year. However, the market is still expecting the US Federal Reserve (Fed) to implement at least two interest rate cuts this year.
Investors are also closely monitoring the US non-farm payroll report, expected to be released later this week, to find more signals about the prospects for monetary policy management of the Fed. In the context of low interest rates and the global economy still containing many uncertainties, non-profit assets such as gold are often prioritized for holding.
On other precious metals markets, spot silver prices rose 3.9% to 75.46 USD/ounce, after setting a historic peak of 83.62 USD/ounce on December 29. At the end of 2025, silver prices rose 147%, recording the strongest year ever, thanks to increased industrial and investment demand while supply was limited.
Platinum prices rose 2.2% to $2,189.88/ounce, after hitting a record high of $2,478.50/ounce earlier last week. In the morning trading session in Asia, the metal at one point increased by more than 5%, to the highest level in a week.
