Gold and Silver surge amid geopolitical uncertainties – ING

Gold and Silver Prices Soar Amid Global Uncertainty

Gold prices have surged past $4,455 per ounce, while Silver has exceeded $77 per ounce, as heightened geopolitical tensions in Venezuela and broader economic instability have fueled a rush toward safe-haven assets. According to ING analysts Ewa Manthey and Warren Patterson, robust central bank acquisitions and the anticipation of more accommodative monetary policies are providing solid support for Gold. Meanwhile, Silver is gaining from its dual role as both a safe-haven asset and a key industrial metal.

Central Banks Drive Gold Higher Amid Policy Shifts

Both Gold and Silver are experiencing upward momentum as investors seek refuge from mounting geopolitical and economic risks. Renewed attention on Venezuela, following the recent US detention of Maduro, has intensified interest in precious metals. This trend is expected to continue until either the geopolitical landscape stabilizes or clearer policy direction is established.

Gold advanced by over 2.5%, breaking above the $4,455 per ounce mark, while Silver jumped more than 5% to trade above $77 per ounce during Monday’s session.

Ongoing purchases by central banks, coupled with expectations of looser monetary policy later in the year, are lending further strength to Gold. Silver is also benefiting from its safe-haven status and strong industrial demand, particularly in sectors like electrification and solar energy.