23.12.2025 07:30
As the search for safe havens in global markets accelerates, gold has once again set a record as of this morning. Spot gold rose by 1.2% to $4,497 per ounce, while gram gold reached a new peak at 6,192 Turkish lira. Silver also broke its all-time record.
Increasing geopolitical risks and uncertainties in global markets have led investors to seek safe havens, accelerating the rise in precious metals. The U.S. steps targeting tankers carrying Venezuelan oil and concerns about energy supply pushed gold and silver prices to historic levels on Tuesday.
GOLD REACHES ALL-TIME HIGH
Spot gold rose by 1.2% to $4,497 per ounce, reaching an all-time high. U.S. futures contracts for gold also increased by 0.74% to $4,502.30 for February delivery. Following the global record prices, the gram gold in Turkey also reached a new peak. Gram gold was traded at 6,192 lira, up 1.4%.
HISTORIC RECORD FOR SILVER
A remarkable rise was also observed in the silver market. Spot silver increased by 1.3% to $70, marking an all-time high. Since the beginning of the year, gold has gained approximately 70% in value, while silver has outperformed gold with a 140% increase.
EXPECTATIONS OF INTEREST RATE CUTS IN MARKETS
Expectations regarding monetary policies have also played a role in the strong performance of precious metals, alongside geopolitical developments. While the markets maintain expectations that the U.S. Federal Reserve will implement two interest rate cuts next year, comments from Fed Board Member Christopher Waller indicating that there is still room for rate cuts have increased interest in non-yielding assets like gold. Additionally, the weakness of the U.S. dollar against other major currencies has made dollar-priced precious metals more attractive to global investors.
VENEZUELA TENSIONS INCREASED MARKET NERVOUSNESS
The U.S. Coast Guard's seizure of a supertanker carrying Venezuelan oil this month under sanctions and reports of two more Venezuela-linked ships being attempted to be stopped over the weekend have heightened market nervousness. These developments have raised concerns about energy supply risks while strengthening demand for safe havens.
The rise in gold and silver has also reflected on other precious metals. Spot platinum increased by 1.1% to $2,143.70 per ounce, reaching the highest level in the last 17.5 years. Palladium rose by 1.42% to $1,784.30, approaching a three-year peak.