Gold Surges to Record High Amid Venezuela Oil Blockade, Crypto Markets React
Gold prices soared to an all-time high above $4,400 per ounce on December 22, driven by haven demand and easing monetary policy expectations. The rally coincided with escalating tensions over Venezuela's oil exports, as the US intensified its blockade by seizing tankers carrying Venezuelan crude. Caracas responded with harsh penalties for blockade participants, while state oil company PDVSA shifted to floating storage to bypass disruptions.
The geopolitical friction has rippled across commodity markets, with oil prices rising on delayed cargoes and shipping bottlenecks. Cryptocurrencies, often sensitive to macroeconomic turbulence, mirrored the volatility as investors weighed safe-haven alternatives against risk assets. The dual pressures of tightening physical commodity flows and monetary policy shifts are reshaping year-end trading strategies.
