Venezuela Shock Adds Fuel to Gold’s Run and Tokenised Gold Makes Access Simpler

Gold is doing what it’s always done: when the world gets messy, it gets bid.

After the US military intervention in Venezuela and the capture of President Nicolás The surprise U.S. military operation in Venezuela over the January 3–4 weekend, which resulted in the capture of President Nicolás Maduro and his wife by U.S. forces, has injected fresh uncertainty into global markets. Maduro was arraigned in federal court in New York on Monday following the operation. 

That uncertainty has supported gold. While specific intraday moves vary with data feeds, consensus among market observers is that the gold price rose sharply in the wake of the events in Caracas. Recent history shows the metal has sustained exceptional momentum:

• The gold price hit successive record highs through 2025, peaking at US$4,549.74/oz on December 26 — an unprecedented level for the modern era. 
• 2025’s average price materially exceeded earlier forecasts, with analysts noting strong performance across ETF, bar and coin demand. 
• Major banks and commodity strategists have lifted their forecasts for 2026, with some suggesting the market could breach longstanding psychological levels under persistent geopolitical and macroeconomic risks. Gold rarely prices in a straight line, but the broader trend remains constructive into Q1 2026.

Venezuela’s mining outlook isn’t an immediate driver

Higher gold prices are a necessary but not sufficient condition for a mining boom in Venezuela. The country’s gold sector has been constrained for years by underinvestment, political instability and high jurisdictional risk. Even with political upheaval, meaningful flows of capital and technology into large-scale mining are unlikely in the near term. Analysts continue to view Venezuelan gold production expansion as a long-term opportunity rather than an immediate market driver.

So, the near-term “winner” here is the gold price, not necessarily Venezuelan production.

Separately, tokenised gold continues to gain traction as a way to access gold price exposure with greater flexibility than traditional physical ownership alone. In essence, these are digital tokens representing claims on gold held in custody, typically tracking the gold price while enabling:

• 24/7 buying, selling and transfer
• fractional ownership
• near-instant settlement

Market organisations such as the World Gold Council and the LBMA have highlighted both the potential of digitalised gold to broaden access and the importance of robust custody and standards as the market evolves. 

Tokenised gold does not replace physical bullion for many investors, but it lowers barriers to participation and can make gold’s upside more accessible, especially in a fast-moving market.