This Wednesday, the 24th, gold reached a new record, surpassing 4,500 dollars per ounce for the first time, driven by the geopolitical risk of the conflict between the USA and Venezuela, and prospects of a reduction in interest rates by the North American central bank.
The yellow metal, a safe haven value par excellence, rose to $4,519.78 per 31.1 grams, with the price soaring more than 70% since the beginning of 2025.
This new increase is part of a more general appreciation in metal prices: silver and copper also reached new highs on Tuesday, while platinum recorded its highest value since May 2008, appreciating more than 110% since the beginning of the year, considerably above the appreciation of gold.
These movements can be explained, in part, by the worsening of geopolitical risks between Washington and Caracas, after the US President, Donald Trump, stated on Monday that it would be “sensible” for his Venezuelan counterpart, Nicolás Maduro, to leave power, and the emergency meeting of the United Nations Security Council on Venezuela this Tuesday, where Russia and China condemned the military and economic pressure exerted on Venezuela by the United States, which claimed to be protecting the “your hemisphere”.
At the same time, investors anticipate further reductions in interest rates by the United States Federal Reserve (Fed) in 2026, following recent data that reflect a weakening of the North American labor market and a slowdown in inflation in the world’s largest economy.