US dollar, gold rise after Maduro abduction as investors seek safe havens
Yuan also remains relatively resilient as analysts predict the Chinese currency could strengthen to as high as 6.8 against the US dollar in 2026
Safe-haven assets, including gold and the US dollar, gained further traction after the United States’ abduction of Venezuelan leader Nicolas Maduro, while the Chinese yuan remained relatively resilient despite the stronger dollar.
The spot gold price rose to more than US$4,420 per ounce early on Monday morning, before edging down to US$4,402 per ounce by midday, according to financial data provider Wind.
Meanwhile, the US dollar index rose to 98.76 from 98.41 at the start of trading on Monday.
What does Maduro’s removal mean for Chinese investments in Venezuela?
The Chinese yuan remained resilient despite pressure from a stronger US currency on Monday morning, with the offshore yuan trading at 6.978 per US dollar as of midday – remaining above the psychologically critical mark of 7 per US dollar.