The escalating tension in Venezuela sparks safe-haven demand, with gold rallying to hit a historical high point.

Notice that as investors pay attention to US inflation data and monitor the escalating tensions in Venezuela, the price of gold is approaching a historical high. Silver is also climbing to new peaks, continuing its strong upward trend. Gold prices rose to above $4325 per ounce, recovering from a slight decline after a five-day consecutive increase. The inflation data scheduled to be released on Thursday will be closely watched to look for clues on how the Federal Reserve's willingness to further cut interest rates may be affected. Before this data is published, key Federal Reserve officials will give public speeches. The developments in Venezuela have also boosted the price of gold, as President Trump has ordered the blockade of all sanctioned oil tankers. Against the backdrop of military buildup and threats of ground strikes in the region, Trump is increasing pressure on Venezuelan President Nicols Maduro. As tensions escalate in Venezuela, the price of gold is approaching historic highs The price of gold is not far from the historical high of over $4,381 per ounce set in October. This precious metal has risen by about two-thirds so far this year, poised to achieve its best annual performance since 1979. This rapid rise has been fueled by substantial purchases by central banks and widespread withdrawals from government bonds and major currencies. Geopolitical tensions have also enhanced its safe-haven appeal. Investors are closely watching for any signs of further monetary easing, as the US central bank cut interest rates for the third consecutive time last week - a positive factor for non-interest-paying precious metals. Currently, traders believe the probability of a rate cut in January is close to 25%. The non-farm payroll data released on Tuesday showed a continued cooling in the US job market, but did not significantly change expectations of a rate cut. Due to the ongoing disruptions caused by the government shutdown, the Federal Reserve is considered to be paying less attention to economic data than usual. The appointment of the new Federal Reserve chairperson will provide further signals for next year's monetary policy. According to sources, Trump, who has been calling for significant rate cuts, is scheduled to interview Federal Reserve Board member Chris Waller for the position on Wednesday. Treasury Secretary Steven Mnuchin said that one to two more interviews are expected this week, with an announcement of the results expected in early January. Niki Hills, research director at precious metals refining company MKS Pamp SA, predicts that gold prices are expected to reach an average of $4,500 per ounce by 2026, in line with many bullish forecasts. Hills stated in a report on Tuesday that after this year's "parabolic surge", gold may consolidate in the short term and then establish a more moderate and sustainable bullish trajectory. As of the time of writing, the gold price has risen by 0.6%, to $4,326.36 per ounce. Silver briefly rose by 3% to $65.6463 per ounce, setting a new record. Platinum also increased by 3%, hitting its highest point since 2011, and palladium also saw an increase.