LONDON, December 22. /TASS/. Gold and silver futures on the Comex exchange (a division of the New York Mercantile Exchange) have reached record highs, surpassing $4,450 per troy ounce and $69.5 per troy ounce, respectively, amid heightened geopolitical tensions.

Since the beginning of 2025, gold futures have risen by 62.82%, while silver futures have more than doubled, gaining 137.27%.

According to the Financial Times (FT), political instability combined with expectations of US interest rate cuts has triggered a new surge in precious metals prices. Analysts believe that the tightening of the US blockade on Venezuelan oil partly explains the rise in precious metals prices, as investors seek safe-haven assets.

Gold and silver are heading toward their largest annual price increase since 1979, when the Iranian revolution caused a sharp spike in oil prices, the publication said.