Gold hits record high

Gold prices on the spot market hit a record high, climbing above $4,380 an ounce amid expectations of further monetary easing by the US Federal Reserve and rising tensions between the United States and Venezuela.

On Monday, spot gold rose 1.1% to $4,386 an ounce. Other precious metals also gained with silver jumping 2.6% to $68.87 an ounce, platinum rising 3.9%, and palladium increasing 4.5%.

Market participants now anticipate the Fed will cut its key interest rate twice in 2026, amid data showing weakness in the US labor market. Lower rates typically boost the appeal of non-yielding assets like gold. Demand for gold as a safe-haven investment is also rising due to a potential US naval blockade of Venezuela.