Driven by the US arrest of Venezuelan President Maduro, safe-haven demand pushed gold and other precious metals higher. Danish Saxo Bank analyst said, “As investors seek safe havens following US actions against Venezuela, gold and silver have responded with rebounds. Trump stated that the US plans to ‘take over’ Venezuela, further exacerbating governance uncertainties.” Last year, driven by Federal Reserve rate cuts, strong demand from central banks, increased inflows into exchange-traded funds, and investors shifting from sovereign bonds and currencies to hard assets, gold prices rose nearly 65%, marking the strongest annual performance since 1979.
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Analysis: Venezuela Turmoil Sparks Safe-Haven Buying Gold and Silver Prices Surge
Driven by the US arrest of Venezuelan President Maduro, safe-haven demand pushed gold and other precious metals higher. Danish Saxo Bank analyst said, “As investors seek safe havens following US actions against Venezuela, gold and silver have responded with rebounds.
Trump stated that the US plans to ‘take over’ Venezuela, further exacerbating governance uncertainties.” Last year, driven by Federal Reserve rate cuts, strong demand from central banks, increased inflows into exchange-traded funds, and investors shifting from sovereign bonds and currencies to hard assets, gold prices rose nearly 65%, marking the strongest annual performance since 1979.