Spot gold and silver rose on Tuesday after U.S. sanctions against Venezuela boosted gold’s appeal as a safe-haven asset. Spot gold rose 0.4% to $4,466 per ounce, while spot silver rose as much as 3%, approaching $79 per ounce.Alexander Zumpfe, a precious metals trader at Germany’s Heraeus Metals, said: “The situation in Venezuela has clearly reignited safe-haven demand.”” Zumpfe added: “If geopolitical tensions escalate further, or if upcoming U.S. data reinforces expectations that the Federal Reserve will have to adopt a more aggressive easing policy than currently anticipated, gold is likely to head toward new record highs once again.” The market is awaiting Friday’s U.S. December nonfarm payrolls data. Silver surged 147% in 2025, benefiting from its designation as a critical mineral in the U.S. and a structural market shortage driven by growing demand.