Gold and Silver futures surged to record levels on geopolitical tensions.

Gold futures reached a historic all-time high of $4,555 an ounce, supported by tensions between the U.S. and Venezuela and central bank demand. Silver futures have gained over 150% this year, marking the best performance since 1979, while the gold-silver ratio fell to its lowest level since 2014. In industrial metals, Copper futures broke through resistance at $5.50 per pound on infrastructure and AI data center demand. Platinum futures also hit a record high of $2,395.60, marking ten straight sessions of gains as traders monitor a Section 232 investigation and potential trade restrictions. Meanwhile, the CME FedWatch Tool indicates declining expectations for a January interest rate cut, with markets now pricing in a 13.3% likelihood.