WASHINGTON (dpa-AFX) - Regaining ground lost yesterday, gold prices climbed to new highs on Wednesday, as intensifying U.S.-Iran tensions drove investors to safe-haven bets.
Front Month Comex Gold for January delivery moved higher by $37.10 (or 0.81%) to $4,626.30 per troy ounce. Notably, this is a new record high for gold prices.
Front Month Comex Silver for January delivery skyrocketed by $4.9920 (or 5.81%) to $90.869 per troy ounce. Notably, this is also a new record high for silver prices, which were up for four consecutive sessions.
In Iran, authorities are dealing strictly with protestors demonstrating against the ruling government.
Meanwhile, U.S. President Donald Trump earlier messaged them that help was on the way for the demonstrators.
While the administration 'blacked out' broadband connectivity, details of the protests were shared after Elon Musk's SpaceX allowed free Starlink internet.
Reports of authorities executing the rebels by hanging prompted Trump to caution Iran that the U.S. would respond forcefully.
Iran's judiciary chief has avowed fast-tracking trials for suspects. The death toll runs greater than hundreds, while several protestors have been imprisoned.
Unmoved by Trump's threats, Iran warned its neighbors that it would hit the U.S. bases in Arab countries if the U.S. conducts air strikes on Iran.
Trump had also warned of imposing a new 25% tariff on nations trading with Iran.
In South America, after taking control of Venezuela by ousting its President Nicolas Maduro earlier this month, Trump has accelerated ways to utilize Venezuela's crude oil to benefit the U.S.
Yesterday, Trump stated that the U.S. is working 'very well' with Venezuelan authorities and announced that several Americans detained in Venezuela have been now released.
Venezuela has agreed to send millions of barrels of oil to refineries in the U.S and currently around 50 million barrels of oil (worth $4.2 billion) is heading to the U.S.
Even while a U.S peace plan to end the Russia-Ukraine war is developing, Russia has stepped up its attacks on Ukraine. So far, Russia has been uncooperative to Trump's peace initiatives.
In the U.S., the Department of Justice has opened a criminal investigation against Federal Reserve's Chair Jerome Powell, centering on the cost overruns in a $2.5 billion renovation of the Fed's headquarters.
While Powell remarked that the probe is a consequence of disregarding Trump's calls on interest rates, around nine leading central bankers have written a joint letter to Powell expressing solidarity with him.
While delivering a speech at the Detroit Economic Club, Trump remarked that Powell will be gone soon.
Data from the U.S. Bureau of Labor Statistics revealed that producer prices rose 0.2% month-over-month in November 2025, accelerating from a 0.1% increase in October, matching market expectations.
Core producer prices (excluding food and energy) remained unchanged from the previous month in November of 2025 following a 0.3% increase in October, below market expectations of a 0.2% increase.
Producer Prices increased 3% in November of 2025 over the same month in the previous year.
The U.S. Census Bureau revealed that retail sales rose 0.6% month-on-month in November 2025, bouncing back from a 0.1% dip in October.
The Purchase Index in the U.S. released by the Mortgage Bankers Association of America increased to 184.60 points in January 9 from 159.30 points of the previous week.
A crucial ruling by the U.S. Supreme Court on the legality of Trump's authority to impose tariffs has been postponed again, leaving the trade-related uncertainty to linger for some more days.
Investor expectations on a rate cut by the U.S. Fed this month-end remains diminished with 95.0% traders betting that the Fed would keep the rates unchanged in its upcoming January 27-28 meeting, according to CME Group's FedWatch Tool.
Copyright(c) 2026 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2026 AFX News
