The dramatic raid early Saturday saw electricity outages in parts of Caracas and military installations were also attacked. US Special Forces seized Maduro and his wife Cilia Flores and transported them by helicopter to a US Navy ship off the coast before flying them to the United States.The move has heightened geopolitical tensions at the start of the year and is expected to resonate across multiple asset classes, given Venezuela’s outsized importance in global energy markets and its significant holdings of gold and other precious metals.
Crude oil
Oil markets will likely be among the first to respond. Prices fell to their lowest level in four years last month, but recovered as President Trump stepped up his rhetoric against Venezuela and tensions rose in other flashpoints such as China and Taiwan.
By late Friday, Brent crude had climbed back above $60 a barrel, although it remained on a three-day losing streak – a losing streak that market participants expect could be snapped when trading opens on Monday.
Venezuela has the world’s largest proven reserves of crude oil, and Trump has said the US will be involved in fixing the country’s broken energy infrastructure while running the government for now. However, despite the size of its reserves, Venezuela’s actual supply remains limited by multiple sanctions. Further complicating the outlook, the International Energy Agency has warned of a significant supply surplus in 2026 even if OPEC+ chooses to curb production in the new year.
Gold and silver
The increased geopolitical risk tends to drive capital out of risky assets and into so-called safe havens, putting gold back in the spotlight.
The gold price, which posted its best annual performance since 1979 in 2025 with a rise of almost 70%, is likely to attract renewed attention after the US strikes this weekend. Venezuela is said to have the largest gold reserves in South America at 161 tons, a stock worth almost $22 billion at current prices.
Silver can also see sharp movements. While not seen as a haven to the same extent as gold, the metal has remained highly volatile after rising about 160% through 2025, its strongest year since 1979, driven by speculative inflows, industrial demand and other factors.
US dollar
The US dollar will also be closely monitored. The dollar had its worst year since 2017 in 2025, and any reaction to developments in Venezuela could be telling.
A stronger dollar is generally negative for the Indian rupee and for metal prices. At the same time, countries around the world have reduced their dependence on the US currency since Trump’s tariff regime took effect, a shift that coincided with a prolonged weakening of the dollar after it reached record highs above 110.
Shares
The stock markets should not be spared. Wall Street could see a knee-jerk reaction as the US is directly involved in this conflict, unlike the Russia-Ukraine war and Israel-Iran war that dominated the markets in 2025.
US stock indices enter 2026 after three straight years of positive double-digit returns, leaving valuations and sentiment vulnerable to shocks. Any sustained negative reaction on Wall Street would likely ripple through global stock markets, setting the tone for the first full trading week of the new year.
(Disclaimer: Recommendations, suggestions, views and opinions expressed by the experts are their own. These do not represent the views of The Economic Times)
#attack #Venezuela #puts #oil #gold #global #markets #edge #ahead #Mondays #opening #heres