Driven by the escalation of tension in Venezuela and market expectations for further US interest rate cuts next year, international gold prices hit a record high, breaking the $4,500 per ounce mark for the first time. International gold prices continued the trend of rising for the previous three days, with an increase of more than 0.5%. The United States has imposed a blockade on Venezuelan oil tankers, increasing local tension and further increasing the safe-haven appeal of gold. Currently, gold is moving towards its best annual performance since 1979. Traders are also betting that after cutting interest rates three times in a row, the Federal Reserve will cut the benchmark interest rate again next year. This is certainly a favorable factor for precious metals that do not generate interest. As of press time, the price of spot gold rose 0.5% to $4507.27 an ounce. The price of silver rose as high as 0.6%, hitting an all-time high of $71.856 per ounce. According to statistics since 1987, the price of platinum also broke through $2,300 per ounce for the first time, and palladium rose at the same time.

Driven by the escalation of tension in Venezuela and market expectations for further US interest rate cuts next year, international gold prices hit a record high, breaking the $4,500 per ounce mark for the first time. International gold prices continued the trend of rising for the previous three days, with an increase of more than 0.5%. The United States has imposed a blockade on Venezuelan oil tankers, increasing local tension and further increasing the safe-haven appeal of gold. Currently, gold is moving towards its best annual performance since 1979. Traders are also betting that after cutting interest rates three times in a row, the Federal Reserve will cut the benchmark interest rate again next year. This is certainly a favorable factor for precious metals that do not generate interest. As of press time, the price of spot gold rose 0.5% to $4507.27 an ounce. The price of silver rose as high as 0.6%, hitting an all-time high of $71.856 per ounce. According to statistics since 1987, the price of platinum also broke through $2,300 per ounce for the first time, and palladium rose at the same time.