Both gold (XAUUSD) and silver (XAGUSD) secured new all-time highs on Monday, powered by mounting geopolitical tensions across the globe. While gold has been the most talked about precious metal in 2025, silver is actually outperforming it with a year-to-date gain of 129% compared to 65%.
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The two metals are viewed as safe-haven assets that act as a store of value, meaning that they tend to perform well during times of economic uncertainty.
Venezuela Oil Tanker Blockade and Ukrainian Strike on Russia Drive Gold, Silver Higher
Last week, President Trump ordered a blockade on all sanctioned oil tankers entering and leaving Venezuela. The blockade has intensified since then, raising concerns of a direct conflict between the two nations.
Furthermore, Ukrainian officials said on Monday that they had completed a series of strikes on Russian oil infrastructure, jets, and ships. That comes despite reports of the two countries making progress on peace negotiations in recent weeks.
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