Gold Surges as Silver Sets Record on Venezuela Tensions

Overview

• February gold futures settled up 2.82% at $4,451.50 per ounce on Comex, approaching the $4,500 threshold.
• Silver climbed about 5.45% to a record near $74.8 per ounce during the session.
• Oil prices swung intraday, with Brent near $60.83 a barrel and WTI around $57.49 after earlier declines.
• Venezuela’s acting president Delcy Rodríguez issued an open letter to President Donald Trump calling for dialogue and an end to hostilities.
• Analysts said the likelihood of a prolonged disruption to Venezuelan oil exports appears lower, while strategists emphasized gold’s hedge role over risk assets like bitcoin.