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The price of gold (TVC: $GOLD ) has risen above $4,400 U.S. an ounce and hit an all-time high after America attacked Venezuela and captured President Nicolás Maduro, heightening geopolitical risks.

Maduro's arrest and extradition, as well as Trump's vow to "run" Venezuela and the world's largest oil reserves, has stoked concerns about more U.S. military actions around the world.

Gold is viewed as a safe haven asset and its price tends to rise in times of geopolitical risk and market volatility.

The price of gold is currently trading at $4,426.60 U.S. per ounce, up more than 2% on Jan. 5 and at an all-time high.

Some analysts are now predicting that gold's price will rise above $4,500 U.S. an ounce in a matter of weeks if not days as global instability rises.

At the same time, the price of silver, another leading precious metal, is up 6% and trading at $75.12 U.S. per ounce on Jan. 5.

The U.S. dollar is up 0.33% to 98.75 U.S. as Treasury bond prices rise and yields move lower following the military action in Venezuela.

However, stock market volatility looks relatively muted heading into the new year. The Cboe Group's VIX index, known as Wall Street's "fear gauge," is up 1.5% at 15.17, a benign level.

Analysts say that the stock market remains more concerned with upcoming fourth quarter 2025 earnings season than geopolitics.

Still, many institutional investors and central banks around the world are ramping up their purchases of gold bullion as the global environment grows more volatile and uncertain.

In 2025, gold's price rose more than 60% while silver's price more than doubled.