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Gold Hits Historic Peak Amid Geopolitical Strains
(MENAFN) Gold climbed to an unprecedented $4,525.96 per ounce on Wednesday, advancing nearly 1% as worries over escalating US-Venezuela frictions and forecasts of further American interest rate reductions intensified.
Following this record-breaking milestone, the value of gold stabilized around $4,495.9 per ounce at 0550GMT, reflecting an approximate 72% surge compared to the previous year.
Silver also experienced notable gains, increasing more than 1% to reach $72.7 per ounce, a level considered historically significant. Over the past twelve months, silver’s price has soared by nearly 144%.
Investor appetite for safe-haven assets has grown due to apprehensions about the decelerating pace of worldwide economic expansion, coupled with speculation on additional US monetary easing in 2026. This sentiment was reinforced by stronger-than-expected American economic performance in the third quarter.
The United States’ gross domestic product (GDP) expanded at an annualized pace of 4.3% during the third quarter, surpassing market forecasts and marking the fastest growth in two years.
Meanwhile, tensions between Washington and Caracas have intensified as the US increased monitoring and enforcement measures against oil shipments associated with Venezuela. These actions have sparked fresh concerns about possible interruptions in global crude supplies, adding to the unpredictability of international geopolitics.
US President Donald Trump alleges that Venezuela utilizes oil proceeds to support “illegal immigration” and “drug shipments” to the United States.
Following this record-breaking milestone, the value of gold stabilized around $4,495.9 per ounce at 0550GMT, reflecting an approximate 72% surge compared to the previous year.
Silver also experienced notable gains, increasing more than 1% to reach $72.7 per ounce, a level considered historically significant. Over the past twelve months, silver’s price has soared by nearly 144%.
Investor appetite for safe-haven assets has grown due to apprehensions about the decelerating pace of worldwide economic expansion, coupled with speculation on additional US monetary easing in 2026. This sentiment was reinforced by stronger-than-expected American economic performance in the third quarter.
The United States’ gross domestic product (GDP) expanded at an annualized pace of 4.3% during the third quarter, surpassing market forecasts and marking the fastest growth in two years.
Meanwhile, tensions between Washington and Caracas have intensified as the US increased monitoring and enforcement measures against oil shipments associated with Venezuela. These actions have sparked fresh concerns about possible interruptions in global crude supplies, adding to the unpredictability of international geopolitics.
US President Donald Trump alleges that Venezuela utilizes oil proceeds to support “illegal immigration” and “drug shipments” to the United States.
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