Gold Climbs on Venezuela Crisis
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Gold prices rose over 1% to exceed $4,380 per ounce on Monday, following the US' ousting of Venezuelan President Nicolas Maduro, which heightened demand for safe-haven assets. President Trump announced that the US would temporarily manage the Venezuelan government after a military operation reportedly captured Maduro. Investors are also monitoring key US economic indicators and Federal Reserve comments this week, which may influence interest rate decisions. Last year, gold saw its strongest annual gain since 1979, driven by safe-haven demand and central bank purchases.
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