Gold Hits Record High as Geopolitical Tensions Fuel Safe-Haven Rally
Gold prices surged to a historic $4,500 per ounce amid escalating US-Venezuela tensions, marking its 50th all-time high this year. The precious metal’s rally reflects a perfect storm of geopolitical risk, central bank demand, and a weakening dollar.
Silver outperformed with a 100%+ gain to $69/oz, while platinum reached a 17-year peak. Market analysts attribute the momentum to Trump’s warnings of naval action against Venezuela and Iran’s missile drills.
Goldman Sachs projects $4,900 Gold by 2026, though some warn of overextension. The commodities boom echoes 1979’s historic rally, with investors flocking to hard assets as fiat currencies wobble.