ISTANBUL

The ounce price of gold rose by 2.1% on Monday compared to the last week amid geopolitical issues.

The price of gold was $4,421 as of 0720GMT, increasing by around $90 per ounce from Friday to Monday.

Tensions between the US and Venezuela have escalated to a new level, following Washington's military operation on Saturday, with the country's leader Nicolas Maduro and his wife "captured" and flown to the US to face criminal charges.

The US raid on Venezuela and President Donald Trump's threats against other countries have heightened geopolitical concerns globally, leading to increased demand for gold.

The price of gold, recently hitting record highs one after another due to “dovish” expectations toward the US Federal Reserve and other central bank purchases, has also increased amid geopolitical risks following the steps taken by the US.

Last month, gold rose to a record $4,525.96 per ounce.

Silver's price also rose by 3.94%, hitting $75.5 per ounce on Monday.