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Informist, Tuesday, Dec. 23, 2025

 

--COMEX Feb gold contract hits new record high of $4,530.8 per ounce

--COMEX March silver contract hits new record high of $70.15 per ounce

 

NEW DELHI – Futures contracts of gold and silver on COMEX hit fresh lifetime highs on Tuesday, supported by a weak dollar and increased safe-haven demand for the precious metal amid rising geopolitical tensions as the US tried to seize more Venezuelan oil tankers. 

 

US President Donald Trump on Monday warned Venezuelan President Nicolas Maduro to leave power, saying "it would be smart" of him not to "play tough". The latest threats come as the US Coast Guard continued to chase a third oil tanker that it described as part of a "dark fleet" that Venezuela uses to evade US sanctions.

 

Asked if the goal was to force Maduro away from power, Trump told reporters, "Well, I think it probably would... That's up to him what he wants to do. I think it'd be smart for him to do that. But again, we're gonna find out," Reuters reported. "If he wants to do something, if he plays tough, it'll be the last time he's ever able to play tough," he said.

 

Trump added that the US could keep or sell the oil it had seized off the coast of Venezuela in recent weeks. Meanwhile, Russia pledged "full support" for Maduro's government, and China condemned the seizure of oil tankers off the coast of Venezuela by the US.

 

Meanwhile, late Monday, Russian forces attacked Ukraine's Black Sea port, damaging port facilities and a ship, in the second attack on the region in less than 24 hours. A Ukrainian drone attack damaged two vessels, two piers, and sparked a fire in a village in Russia's Krasnodar region on Monday. 

 

Gold, a traditional safe-haven asset against geopolitical and trade tensions, has risen over 70% on year on COMEX and crossed the $4,400 mark for the first time on Monday. At 0807 IST, the most-active February gold contract was up 1.3% at $4,525.6 per ounce, after touching a record high of $4,530.8 per ounce. 

 

Bullion prices also rose on increased expectations of two interest rate cuts by the US Federal Reserve next year. Typically, a lower interest-rate environment boosts the appeal of non-interest-yielding precious metals.

 

Silver prices have also been surging on safe-haven demand and strong industrial demand for the white metal. At 0807 IST, the most-active March silver contract on COMEX was up 1.6% at $69.72 per ounce, after touching a record high of $70.15 per ounce. Silver has gained nearly 140% on year, far outpacing gold, and breached the $70-mark levels.  End

 

US$1 = INR 89.65

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Reported by Afra Abubacker

Edited by Avishek Dutta

 

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