Gold, Silver surge to record highs amid US-Venezuela tensions

(MENAFN) Gold and silver prices surged to historic highs on Monday, fueled by rising geopolitical uncertainty and growing fears of a potential escalation between the United States and Venezuela, which pushed investors toward traditional safe-haven assets.

Gold advanced by roughly 2% by 0700 GMT, reaching an all-time high of $4,420.35 per ounce, exceeding its previous peak recorded in October.

Since the start of the year, gold has gained about 70%, driven by ongoing trade disputes, geopolitical instability, and a cycle of interest rate cuts by central banks.

Silver also posted strong gains, jumping 3% to a record $69.5 per ounce. Over the past year, silver prices have climbed by more than 130%.

Broader precious metal markets continued to rise as investors positioned themselves for lower borrowing costs, stronger demand, and tighter supply conditions in the year ahead. These factors helped extend recent upward momentum across the sector.

Monday’s rally is part of a longer-term upswing in metals prices, underpinned by increasing demand for safe assets amid concerns about slowing global economic growth. Interest in physical commodities has also been supported by expectations of further US interest rate cuts in 2026.

Geopolitical uncertainty intensified over the weekend following reports that the United States was preparing to board a third vessel near Venezuela’s coastline, adding to market unease surrounding the standoff between Washington and Caracas.

US President Donald Trump has stepped up scrutiny of Venezuela, accusing the country of using oil revenues to support illegal immigration and drug trafficking into the United States.

Last week, Trump warned of the possibility of a ground invasion and ordered a blockade on sanctioned oil tankers traveling to and from Venezuela, further heightening global market jitters.

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