Gold jumps over 2% to all-time peak, silver follows with record gain
Published on 23/12/2025 12:40 AM
*
Gold hits all-time high of $4,441.92/oz
*
Silver hits record high of $69.44/oz
*
Platinum at over 17-year high
*
Palladium hits near three-year high
By Sherin Elizabeth Varghese
Dec 22 - Gold jumped more than 2% to a record high on Monday, powered by safe-haven flows as U.S.-Venezuela tensions flared, while silver also touched an all-time peak.
Spot gold was up 2.2% at $4,434.26 per ounce by 1:54 p.m. ET after hitting an all-time high of $4,441.92 earlier. U.S. gold futures for February delivery settled 1.9% higher at $4,469.40 per ounce.
"Support in the near-term is coming from raised geopolitical tensions between the U.S. and Venezuela ... Gold prices have been hovering just below record highs in recent sessions, so this looks like a simple textbook momentum break to the upside after recent bullish consolidation, in holiday markets with less volume," said an analyst at Nemo.Money.
"The obvious target for gold bulls is $5,000 next year."
U.S. President Donald Trump last week announced a "blockade" of all oil tankers under sanctions entering and leaving Venezuela.
In other news seen as supportive for gold, Trump could name a new Fed Chair by early January, replacing Jerome Powell, who is set to retire in mid-2026, CNBC reported, as markets watch closely amid expectations the new chair may align with Trump's push for further rate cuts.
Gold as a safe-haven asset tends to thrive during periods of geopolitical and economic uncertainty. Gold has surged more than 69% this year in its biggest annual rise since 1979, fuelled by strong central bank buying, safe-haven flows, and lower interest rates.
Spot silver was up 1.9% at $68.40 after hitting a new high of $69.44. Prices are up over 136% so far this year.
The drivers behind silver's recent highs have centred on the persistent supply-demand deficit and import demand growing in India over its festive period, said Macquarie strategists, adding that they expect silver to average $57 an ounce in 2026.
The U.S. dollar edged lower against a basket of other major currencies, making dollar-priced bullion more affordable for overseas buyers.
Platinum jumped 5.4% to $2,079, hitting its highest in more than 17 years, while palladium climbed 2.1% to $1,748.84, hitting a near three-year high.
This article was generated from an automated news agency feed without modifications to text.
Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
Download the Mint app and read premium stories
Log in to our website to save your bookmarks. It'll just take a moment.
Oops! Looks like you have exceeded the limit to bookmark the image. Remove some to bookmark this image.