Gold rose to an all-time high above $4,500 an ounce on escalating tensions in Venezuela and expectations for more US rate cuts. Gold has gained more than 70% this year and silver has risen by 150%; both are on track for their best annual performance since 1979. The rally in precious metals has been underpinned by elevated central-bank purchases and inflows into exchange-traded funds. Total holdings in gold-backed ETFs have risen every month this year except May, according to World Gold Council data. Spot gold rose 0.6% to $4,511.91 an ounce as of 10:20 a.m. in Singapore, having earlier hit a record of $4,525.77.

Source: The Star December 24, 2025 17:49 UTC