Oil prices dipped on Monday as global markets reacted to the recent seizure of former Venezuelan leader Nicolás Maduro. Analysts suggest that any potential disruption to Venezuelan oil exports would be easily offset by supply from other producers worldwide.
In contrast, precious metals such as gold and silver saw a significant increase as investors sought refuge in “safe haven” assets amid geopolitical uncertainty. Gold prices rose nearly 2% to $4,408 an ounce, while silver climbed 3.5%.
The London stock market also reflected these shifts, with shares in defense firms like BAE Systems and Babcock International among the top performers on the FTSE 100. Additionally, precious metals mining companies Endeavour and Fresnillo saw gains following the rise in gold prices.
Source: BBC
