Gold Smashes $4,400 as Silver Eyes $70 

Daily News Nuggets | Today’s top stories for gold and silver investors  
December 22^nd, 2025 

Gold and Silver Smash Records Again 

Gold climbed above $4,400 per ounce Monday — another all-time high in what’s become a relentless rally throughout 2025. Silver followed suit, pushing past $68 per ounce and closing in on $70. Both metals have surged roughly 70% and 128% this year, respectively, making this the strongest annual performance since 1979. 

The latest spike comes as traders anticipate two Fed rate cuts in 2026, while geopolitical tensions — from the U.S. oil blockade against Venezuela to ongoing Middle East conflicts — are amplifying safe-haven demand. ETF inflows have climbed for four straight weeks, and central banks continue stockpiling bullion.  

Goldman Sachs now sees gold hitting $4,900 by late 2026, with risks tilted higher as institutional buyers compete for limited physical supply. 

Hong Kong Bets Big on Gold 

Hong Kong launched its Commodity Strategy Committee Monday with an ambitious goal: becoming a global gold trading hub. Financial Secretary Paul Chan led the meeting, which prioritized plans for an international gold trading center as the city looks to diversify beyond traditional finance. 

Officials announced they’ll establish a gold central clearing system and industry association in 2025, while deepening ties with the Shanghai Gold Exchange to expand Hong Kong’s influence in global gold pricing. The city is also ramping up vault capacity—the airport alone is expanding storage from 150 to 1,000 tonnes.  

It’s a strategic play as Asia accounts for over 20% of global gold imports, with China and India leading demand. If successful, Hong Kong could rival London’s dominance as a gold price-setter and storage hub. 

The Dollar’s Uncertain Path Forward 

After rallying hard in late 2024, the dollar has started showing cracks. Analysts are split on where it heads next. Bears point to slowing U.S. growth, potential Fed rate cuts, and ballooning deficits as reasons the greenback could weaken through 2025. Bulls counter that American economic outperformance and “higher for longer” rates could keep the dollar elevated — at least for now. 

What’s clear: the currency’s direction hinges on the Fed’s next moves and whether Trump’s fiscal plans gain traction or stall in Congress. December is historically the dollar’s worst month, but with Trump back in office and markets pricing in fewer rate cuts than earlier expected, seasonality may not hold. Either way, dollar weakness tends to be jet fuel for gold and commodities. 

Trump Tightens the Noose on Venezuelan Oil 

The U.S. has seized at least three oil tankers near Venezuela in the past two weeks, escalating Trump’s economic blockade on the Maduro regime. The Coast Guard intercepted vessels carrying millions of barrels of crude, including ships sanctioned for ties to Iran and Hezbollah. One tanker alone held $60–$100 million worth of oil. 

Venezuela’s crude exports have dropped sharply since the blockade began, threatening the country’s economic lifeline. Oil accounts for nearly 90% of Venezuela’s export revenue, and Trump has made it clear: no sanctioned tankers will move freely in the Caribbean.  

The moves sent oil prices higher this week, though the overall market remains well-supplied. The bigger story? This could be a blueprint for tightening sanctions on Iran next. 

JPMorgan Inches Toward Crypto Trading 

JPMorgan is preparing to offer cryptocurrency trading to institutional clients, according to a Bloomberg report Monday. The move marks the latest step in Wall Street’s embrace of digital assets — though the bank made clear it won’t handle crypto custody anytime soon. 

Global head of markets Scott Lucas confirmed the plans in a CNBC interview, noting CEO Jamie Dimon had already signaled the bank’s intent at investor day. JPMorgan has been steadily expanding its blockchain footprint, including partnerships with Coinbase and the pilot launch of its deposit token, JPMD, on the Base network.  

The shift reflects growing client demand and clearer U.S. regulations under the Trump administration. For precious metals investors, the parallel is striking: institutions are diversifying beyond traditional stores of value as they hedge against currency debasement and policy uncertainty.