New York, January 5, 2026, 13:31 EST — Regular session
- Spot gold climbed to a one-week high after U.S. strikes in Venezuela revived safe-haven demand.
- The SPDR Gold Shares ETF (GLD) and the VanEck Gold Miners ETF (GDX) rose, with miners outperforming bullion-linked funds.
Shares of SPDR Gold Shares (GLD), a gold-backed exchange-traded fund, rose on Monday as bullion prices jumped on renewed geopolitical risk tied to Venezuela.
The move matters because gold entered 2026 near record levels after a strong 2025 run, leaving markets sensitive to shocks that can trigger rapid shifts in positioning.
It also lands as investors reassess the outlook for U.S. interest rates, a key driver for gold because the metal does not pay interest and tends to look more attractive when yields fall.
Spot gold rose 2.7% to $4,447.05 an ounce by 11:20 a.m. ET, after earlier touching its highest level since Dec. 29, according to Reuters. “The situation around Venezuela has clearly reactivated safe-haven demand,” said Alexander Zumpfe, a precious metals trader at Heraeus Metals Germany. Reuters
GLD was up 2.6% at $408.82 in early afternoon New York trading, while the VanEck Gold Miners ETF (GDX) gained 4.6%. Newmont climbed 2.4% and Agnico Eagle rose 4.5%, tracking the jump in gold prices.
Gold is often described as a “safe haven” because investors tend to buy it when the risk of a broader market drawdown rises. Miners can move more than bullion-linked funds because their profits are leveraged to the metal price once costs are covered.
Still, traders flagged uncertainty around how long the bid for gold can last if geopolitical risk cools. A stronger run of U.S. data that pushes Treasury yields higher could also sap demand for a non-yielding asset like gold.
Investors’ next focus is Friday’s U.S. Employment Situation report for December 2025, scheduled for 8:30 a.m. ET, for clues on the path of Federal Reserve policy. Bls
