Gold Prices Rebound Above 4470 Dollars as Safe Haven Demand Counteracts Profit Taking

Geopolitical Volatility and US Policy

The 'Venezuela Premium' remains the primary driver for bullion. With the White House outlining plans to exert long-term control over PDVSA, investors are hedging against potential regional instability. Additionally, mixed US economic data has kept expectations for at least two Fed rate cuts in 2026 alive, further supporting the non-yielding asset.

Institutional Accumulation

Major banks including Morgan Stanley and Goldman Sachs have maintained bullish 2026 forecasts, with targets of $4,700–$5,000. China's central bank recently confirmed its 14th consecutive month of gold accumulation, signaling that structural demand from official sectors is unlikely to wane.