The price of silver rises above US$75 for the first time amid geopolitical tensions and global economic uncertainty.

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The metal reached US$75.15 (R$416, at current prices), while gold also returned to highs, reaching US$4,531.04 (R$25,118) per ounce.

Since January, gold has appreciated by almost 70%, and silver by more than 150%, annual performances without precedent since 1979.

Traditionally considered safe havens, gold and silver are considered safer long-term investments, being acquired primarily by central banks and private investors as a form of protection in times of instability.

Analysts say the recent price rise is partly explained by increased geopolitical risk associated with the conflict between the United States and Venezuela.

In recent months, Washington has mobilized a vast military force in the Caribbean and imposed a naval blockade on the Venezuelan oil sector, accusing Caracas of financing “narcoterrorism”.

The Venezuelan government in turn denounces an attempt at destabilization aimed at overthrowing President Nicolas Maduro and taking control of the country’s oil reserves.

At the same time, the dollar and US Treasuries – traditionally considered safe havens and direct competitors to precious metals – have lost their appeal throughout 2025.

The uncertainty surrounding the presidency of Donald Trump has largely contributed to this movement, reinforced by the prospect of further interest rate cuts from the Federal Reserve (Fed), which tends to weaken the American currency.

Investors are also concerned about growing public debt in the world’s major economies and the possibility of a bubble forming in the artificial intelligence sector.