The spot price of gold set a new record during trading on Monday.
As of 8:22 a.m. Kyiv time, it stood at $4,574.77 per ounce, up 1.5% from the previous session’s close. Earlier in trading, the spot price of gold rose to $4,599.87 per ounce, a record high.
Gold futures on the Comex exchange added 1.9% to $4,586.5 per ounce.
Other precious metals are also rising in price. The spot price of silver rose 5.5%, platinum 3.5% and palladium 3.2%.
Demand for precious metals is being driven by heightened geopolitical risks and concerns about the independence of the US Federal Reserve (Fed), which have been exacerbated by news that the US Department of Justice is preparing criminal charges against Fed Chairman Jerome Powell.
According to Powell, the charges are related to his statements during a speech to the Senate Banking Committee in June last year on the long-term project to renovate the Fed’s headquarters.
‘These unprecedented actions should be viewed in the broader context of threats and ongoing pressure from the US administration,’ Powell said.
In addition, the United States continues to monitor the protests in Iran and is considering various options for action, US President Donald Trump said.
When asked how Washington would respond if Iran attacked American military bases, the president said, ‘We will strike them with a magnitude they have never experienced before.’
Trump also repeated his threats to take control of Greenland.
Gold and other precious metals rose on Monday amid events in Venezuela, which contributed to increased demand for safe-haven assets.
As reported, on January 3, US special forces conducted a special operation in Venezuela, capturing the country’s president, Nicolas Maduro, and his wife. Maduro will appear before a federal court in Manhattan, New York, on Monday, ABC News reported. He is expected to face drug trafficking charges that could result in multiple life sentences. US President Donald Trump said on Saturday that his country would temporarily take control of Venezuela.
The spot price of gold rose 2.1% during trading to $4,422 per ounce. Gold for February delivery on Comex rose 2.4% to $4,433.3 per ounce.
“Events in Venezuela have spurred demand for defensive assets as investors seek to protect themselves from geopolitical risks,” said KCM Trade analyst Tim Waterer. “Gold and silver were among the main beneficiaries.”
In 2025, gold rose 64%—the most since 1979—amid geopolitical tensions, lower interest rates, and high demand from global central banks. On December 26, the price of the precious metal rose to a record $4,549.71 per ounce.
The price of silver on the spot market rose 3.8% on Monday to $75.33 per ounce. At the end of last year, silver rose 2.5 times in price, which was its best annual performance. The price of the precious metal reached a record high of $83.62 per ounce on December 29.
The spot price of platinum rose 3.7% during trading to $2,220.3 per ounce, and palladium rose 2% to $1,671.7 per ounce.
Earlier, the Experts Club analytical center presented an analysis of the world’s leading gold-producing countries in its video on YouTube channel — https://youtube.com/shorts/DWbzJ1e2tJc?si=BywddHO-JFWFqUFA
Precious metals showed the strongest performance among key asset classes in 2025 amid geopolitical tensions, expectations of a softening US Federal Reserve policy, and seasonally low liquidity at the end of the year.
According to market reports, silver rose 128.47%, gold rose 66.59%, and copper rose 35.45%.
US stock indices also ended the year in positive territory: the Nasdaq added 19.70% and the Russell 2000 added 12.53%.
At the same time, the crypto market showed weaker dynamics: Bitcoin fell by 5.75%, Ethereum by 11.58%, and the altcoin sector by 42.27%.
In the commodities market, the key driver was the “defensive” component of demand: gold hit new all-time highs in 2025, while silver showed relatively sharp growth; copper also strengthened amid bets on infrastructure and industrial demand.
On Wednesday, the price of gold on the spot market exceeded $4,500 per ounce for the first time in history, setting a new record.
By 8:31 a.m. Kyiv time, the spot price of gold had risen 0.1% to $4,490.56 per ounce, and earlier in the session it had risen to a record $4,525.77 per ounce. Futures on the Comex exchange also set a new historic high of $4,555.1 per ounce.
By 9:00 a.m. Kyiv time, these contracts had fallen back to $4,520.6 per ounce, which is 0.3% higher than the previous trading day.
Investors continue to buy gold as a safe-haven asset amid growing geopolitical tensions and expectations of further easing of the US Federal Reserve’s monetary policy amid a cooling labor market and slowing inflation. An additional factor is weak market liquidity at the end of the year, which exacerbates price volatility.
Earlier, the Experts Club analytical center presented an analysis of the world’s leading gold-producing countries in its video on YouTube channel — https://youtube.com/shorts/DWbzJ1e2tJc?si=BywddHO-JFWFqUFA
The price of gold on the spot market hit a record high for the 50th time since the beginning of the year due to expectations of a Fed rate cut and demand for safe-haven assets.
During trading on Tuesday, the spot price of gold rose 0.7% to $4,473 per ounce. The day before, gold rose at a record pace for the month, and since the beginning of the year, it has risen 70% and shown the best annual dynamics since 1979.
Other precious metals are also rising in price: the cost of silver increased by 0.2% to $69.2 per ounce, platinum by 1.3%, and palladium by 1%.
Market participants are monitoring events surrounding Venezuela. According to media reports, last weekend the US Coast Guard attempted to intercept another oil tanker allegedly linked to the country’s shadow fleet.
“Geopolitical tensions are back on the agenda,” said Ahmad Assiri of Pepperstone Group. “These events may not have caused an immediate reaction, but they certainly increase the demand for gold as a hedge against risk.”
In addition, investors believe that the Fed will continue to lower its key rate amid a weakening labor market. Low interest rates are a positive factor for gold prices, as they increase the relative attractiveness of investments in precious metals, which do not generate interest income.
Goldman Sachs analysts predict that in 2026, gold will rise to $4,900 per ounce in the base scenario.
According to Serbian Economist, Australian company Strickland Metals reported the discovery of rich gold-copper ores in the Šanac area of the Rogozna project in southern Serbia, potentially making this cluster one of the largest gold projects in the Balkans. The news was reported earlier by Australian business media.
According to the company, new drill results from the Šanac prospect indicate strong intervals of continuous gold and copper mineralization. The site is estimated to have a resource of about 165 tons of gold equivalent, and the combined potential of the entire Rogozna project is about 230 tons AuEq. A series of recent holes have shown extended intervals with gold grades well above initial expectations, including tens of meters of high grams-per-tonne equivalent.
A total of seven drill rigs are now active at Rogozna, including three at the equally prospective Gradina prospect, where over 700 meters of continuous gold and zinc mineralization was previously reported.
The Rogozna project is located in the Novi Pazar area, within the Tetian metallogenic belt, which hosts a number of large copper-gold deposits. According to Strickland’s corporate materials, the licensed area covers approximately 184 square kilometers and includes four exploration licenses; the resource is already estimated at millions of ounces of gold equivalent, placing Rogozna among the largest undeveloped gold projects in Europe.
Gold in the Serbian economy: production and reserves are growing
Serbia has been rapidly strengthening its position on the map of European gold mining in recent years. According to international statistical resources, the country’s gold production in 2023 was about 7 tons (7,000 kg), slightly lower than the record 7.29 tons in 2022, but many times higher than the average figures of the early 2000s.
The key industrial player is China’s Zijin Mining, which owns the Serbia Zijin Bor Copper complex and the Čukaru Peki deposit. In 2024, these assets jointly produced about 8 tons of gold as part of copper-gold mining, ensuring Serbia’s status as one of the fastest growing gold mining centers in the region.
In parallel, the National Bank of Serbia is actively building up its gold reserve. According to TradingEconomics and specialized industry surveys, the volume of the country’s official gold reserves has grown to 51 tons in the second-third quarter of 2025, compared to the average of 20-21 tons in the early 2000s.
Gold now accounts for about 17-18% of foreign exchange reserves, and Belgrade has been consistently repatriating the metal from foreign vaults back to the country.
Against the backdrop of growing production and increasing gold reserves, the Rogozna discoveries reinforce Serbia’s role as a promising hub for gold and base metals in Southeast Europe.
As the Rogozna resource base is refined and subsequent feasibility studies are conducted, the project could become one of the key arguments for further strengthening Serbia’s gold balance, but its realization, according to analysts, will require strict adherence to environmental standards and transparent agreements between investors, the state and local communities.
