Gold and silver have surged to fresh record highs, delivering an expensive Christmas for any would-be “wise men” hoping to buy precious metals.
Gold has smashed through the $4,400 mark for the first time, climbing 1.8% to $4,417.53 an ounce. Silver has risen even more sharply, jumping 3% to a new all-time high of $69.14 an ounce.
Prices are hitting unprecedented levels as investors rush into safe-haven assets amid mounting geopolitical tension and expectations of looser monetary policy. Analysts point to growing confidence that the US will deliver further interest rate cuts, alongside a renewed surge in risk aversion.
Safe-haven demand has been amplified after Donald Trump and senior advisers declined to rule out military action against Venezuela. Washington is tightening its oil blockade, piling pressure on the government of Nicolás Maduro.
In recent days, two vessels have reportedly been seized off Venezuela’s coast in international waters, with a third ship now being pursued, further stoking investor anxiety and underpinning the rally in precious metals.
