Wedoany.com Report-Dec.25, Gold prices reached new record levels on Wednesday as investors sought safe-haven assets amid ongoing geopolitical uncertainties, including tensions related to Venezuela, and amid expectations for additional U.S. interest rate reductions.

Spot gold touched an all-time high of $4,524.68 per ounce in early trading before pulling back to around the $4,450 level due to profit-taking by some participants. U.S. gold futures climbed as high as $4,555.10 per ounce before settling near $4,500.

This performance positions gold for its strongest annual gain since 1979, exceeding 70%. The sustained upward movement has been supported by consistent central bank acquisitions and steady inflows into gold-backed exchange-traded funds.

John Feeney of Sydney-based gold dealer Guardian Vaults said the dominant drivers for gold right now are the combination of sustained physical demand and renewed sensitivity to macro risk.

He added: "We're seeing momentum reinforced rather than capped, which suggests underlying conviction rather than purely speculative froth."

The metal demonstrated resilience by recovering swiftly after retreating from its prior peak of $4,381 in October. Market participants anticipate that these gains could extend into 2026, with institutions like Goldman Sachs forecasting a base-case price of $4,900 per ounce next year.

Other precious metals have also advanced strongly. Silver reached a record high of $72.70 per ounce on Wednesday, delivering yearly gains of over 150%, more than double those of gold. This rally has been bolstered by speculative inflows and persistent supply challenges in major trading centers, following a notable short squeeze in October.

Feeney commented: "Unlike previous silver rallies driven primarily by leverage, this move is being underwritten by real demand for metal, which is changing how the market behaves around key price thresholds. I can't see an end to the trend just yet."

Platinum has gained momentum as well, surpassing $2,300 per ounce for the first time since records began in 1987. The metal, utilized in automotive and jewelry applications, has extended its advance for a 10th consecutive session, marking its longest winning streak since 2017. Tight supply conditions and elevated borrowing costs have contributed to this performance.

These developments across precious metals reflect broader market dynamics, where demand for physical assets remains robust in response to economic and geopolitical factors. Central bank activity and investor interest continue to provide underlying support, while lower interest rate expectations enhance the appeal of non-yielding metals.

As the year draws to a close, gold and related assets maintain strong momentum, with analysts monitoring how these trends evolve into the next year amid ongoing global conditions.