- It reported that due to rising geopolitical tensions such as the US blockade of Venezuela, gold prices again hit record highs.
- It said that the US blockade measures and news that President Donald Trump is considering possible military action affected the rise in gold prices.
- It reported that with the US central bank's rate cuts and increased gold buying by major central banks, gold has surged 69% so far this year.
- The article was summarized using an artificial intelligence-based language model.
- Due to the nature of the technology, key content in the text may be excluded or different from the facts.
Gold, a safe-haven asset, again hit record highs amid rising geopolitical tensions such as the US blockade of Venezuela.
According to Investing.com, as of 9:16 a.m. KST on the 23rd, the spot price of gold stood at 4460.29 dollars per troy ounce. Intraday it surged to 4467.50 dollars, breaking the record.
Gold prices rose as the US took blockade measures, such as blocking oil exports, to pressure Nicolás Maduro's regime in Venezuela. The Financial Times reported that President Donald Trump is reportedly considering the possibility of military action on Venezuelan territory while pressing President Maduro to step down.
Earlier, the upward trend in gold continued due to the US central bank (Fed)'s rate cuts and increased gold buying by major central banks. So far this year, gold has surged by 69%.
Silver prices are also on a steep upward trend. The international spot price of silver compiled by Bloomberg exceeded the previous record at 69.4549 dollars per ounce as of 1:15 p.m. KST on the 22nd. As of 8:20 a.m. that day, it was trading at 69.2275 dollars.
Han Gyeong-woo, Hankyung.com reporter case@hankyung.com
