Gold continues to rise, reaching its weekly high due to increasing geopolitical tension surrounding Venezuela. Investors are actively seeking “safe havens,” and gold is traditionally viewed as one of the main protective assets during times of uncertainty.
This is reported by Finway
Market Dynamics of Precious Metals
As of this week, the spot price of gold has increased by 0.4%, reaching $4,463.63 per ounce. This follows an almost 3% increase in the previous trading session. By the end of 2025, gold hit a historic high of $4,549.71 per ounce (on December 26) and recorded its best annual performance since 1979, rising by 64% over the year.
U.S. gold futures for February delivery rose by 0.5% to $4,473.90 per ounce, demonstrating sustained interest in the asset amid global instability.
“Comments from Fed representatives certainly did not hinder the rise, but they hardly radically changed the landscape. We have an important week ahead with Friday’s employment report,” said Ilya Spivak, head of global macro analytics at Tastylive.
Geopolitical Factors and the Metals Market
Tension in Venezuela has escalated after the country’s president, Nicolás Maduro, did not plead guilty to drug trafficking charges. His detention by U.S. military forces during Donald Trump’s presidency caused significant resonance among world leaders and forced Venezuelan officials to seek new power formats. This event exemplifies the growing rift between the U.S. and China and the overall trend towards deglobalization, which directly impacts investor sentiment.
Traditionally, non-yielding assets, such as gold, perform better amid low interest rates and increasing uncertainty in the global economy.
In addition to gold, other precious metals have also seen significant increases. Spot silver rose by 2.8% to $78.64 per ounce, after setting a historic record of $83.62 per ounce on December 29. By the end of 2025, silver increased by an impressive 147%, marking the best annual performance in recorded history.
Platinum also gained 2%, reaching $2,315.69 per ounce, and during the previous Monday, it peaked at a record $2,478.50. In the last session, platinum rose by more than 5%, reaching a weekly high. Palladium traded 2.2% higher at around $1,745.68 per ounce.