Bitcoin & Gold Bounce as Trump Admin Brokers US-Venezuela 1000 Kg Gold Deal

Bitcoin and gold prices rebound as the Trump administration facilitates a multimillion-dollar gold deal between the United States and Venezuela. Bitcoin price hits $74K as US services sector growth activity rises to a 3-year high and the US private sector adds more jobs than expected.

US-Venezuela Gold Deal Facilitated by Donald Trump Admin

Venezuela’s state-owned mining company Minerven has signed a multimillion-dollar contract to supply 650 to 1,000 kilograms of gold dore bars to global commodities trader Trafigura, Axios reported on March 5. The gold is destined for U.S. refineries, facilitated under arrangements involving the U.S. government.

U.S. Interior Secretary Doug Burgum, who visited Venezuela this week leading a delegation of American mining firms, played a key role in brokering the agreement. The deal aligns with broader U.S. efforts to deepen commercial ties with Venezuela following the January 2026 U.S. military operation that ousted former President Nicolas Maduro.

Interim President Delcy Rodriguez signaled upcoming reforms to Venezuela’s mining laws, aiming to attract foreign investment in gold, minerals, and rare earths. This follows earlier agreements redirecting Venezuelan oil toward the U.S. Notably, crude oil prices have skyrocketed since the US and Israel attacked Iran.

Bitcoin and Gold Prices Rebound

The US-Venezuela gold deal, amid a broader precious metals and crypto market rebound, sparked positive sentiment. Gold rose to about $5,170 per ounce on Thursday, as investors rotated to safe havens amid escalating tensions in the Middle East.

Bitcoin is up more than 7% over the past 24 hours amid a tech-led rebound on Wall Street and positive macro developments. After ISM Manufacturing PMI triggered a Bitcoin rebound to $70,000, the higher-than-expected ISM Services PMI pushed Bitcoin further above $74,000.

BTC price is trading at $72,815, moving towards the 50-day moving average at $75,878 currently. The 24-hour low and high are $67,482 and $74,051, respectively. Furthermore, trading volume has increased further by 46% over the last 24 hours, indicating massive interest among traders.

CoinGlass data showed total Bitcoin futures open interest jumped more than 12% to $49.45 billion in 24 hours. Bitcoin futures open interest climbed more than 0.30% on CME and Binance. This signals bullish sentiment among derivatives traders.