Gold, Silver Reach Historic Highs
Gold rose by nearly 2% at 0700GMT, hitting a record $4,420.35 per ounce and surpassing its previous peak in October. Over the course of this year, gold has surged about 70%, driven by trade disputes, geopolitical instability, and monetary easing by central banks.
Silver also advanced, gaining 3% to reach $69.5 per ounce—a new all-time high. Over the past year, silver prices have skyrocketed more than 130%.
Market analysts note that expectations of lower interest rates, heightened demand, and tighter supply conditions are likely to sustain the upward momentum in precious metals. The latest rally reflects a broader trend, as investors increasingly turn to tangible assets amid concerns about slowing global economic growth. Anticipation of further U.S. rate cuts in 2026 has also reinforced this demand.
Geopolitical risks added further pressure. Reports over the weekend indicated that the U.S. was preparing to intercept a third vessel off Venezuela’s coast, intensifying uncertainty.
President Donald Trump has expanded Washington’s oversight of Venezuela, claiming the country channels oil revenues into illegal immigration and narcotics trafficking operations targeting the U.S.
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