Gold Prices Hit Record Highs for Consecutive Days, Up 70% This Year

Silver Prices Also Hit Record Highs

International gold prices have been reaching record highs for several consecutive days. Analysts attribute the surge in gold, a safe-haven asset, to heightened geopolitical tensions and uncertainties, such as the United States’ blockade against Venezuela.

According to Bloomberg, as of 11:42 a.m. KST on December 23, 2025, international spot gold prices soared to an all-time high of $4,497.74 per troy ounce (31.1g), before retreating to $4,477 by 3:40 p.m.

Bloomberg reported that there have been 50 days this year when gold prices set new daily record highs. The United States is ramping up pressure on the Nicolas Maduro regime by imposing a blockade to halt Venezuela’s crude oil exports.

On December 16, President Donald Trump designated the Maduro regime as a "foreign terrorist organization" and announced a complete blockade of Venezuelan ports to sanctioned oil tankers. According to the Financial Times (FT), President Trump is pressuring President Maduro to step down and is reportedly considering possible military action against Venezuelan territory.

Gold prices have risen 70% this year amid U.S. interest rate cuts and increased gold purchases by major central banks. Goldman Sachs, a U.S. investment bank, has forecast that this bullish trend will continue next year, projecting gold to reach $4,900 per ounce.

Silver prices are also climbing sharply. As of 12:03 p.m. KST on December 23, 2025, international spot silver prices reached a new record high of $69.9929 per ounce, and were trading at $69.4305 per ounce by 3:40 p.m. the same day.

The Financial Times (FT) projected that this year’s gold and silver prices will see their largest annual increases since 1979, when oil prices soared following the Iranian Islamic Revolution. This year, silver prices have risen by approximately 140%.