Gold miners rally on safe-haven demand amid Maduro capture
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The news: Gold miners rallied on the ASX as investors turned to the safe-haven metal amid geopolitical uncertainty following the Trump administration's surprise move to capture Venezuelan President Nicolás Maduro on Saturday.
The numbers: Materials (+1.5%) was the top performing sector at 1:30pm AEDT as the benchmark ASX 200 index added 0.2%.
West African Resources (+3.6%), Genesis Minerals (+1.9%) and Newmont Corporation (+1.8%) led gains by gold producers.
Spot gold was last up 1.7% to USD4,404 ($6589).
The context: Gold, silver and oil prices all lifted as traders monitored developments in the ongoing saga. Maduro, who is currently in custody in a New York prison, is expected to appear in a Manhattan federal court on Tuesday AEDT.
