Phillip Nova analyst Priyanka Sachdeva said structural drivers for gold remain despite a recent pullback; spot gold has retraced to about $4,100–4,200/oz and $4,000/oz remains a key level. Fragile Middle East oil-supply flows and ongoing geopolitical uncertainty are sustaining investor interest; if the long-term structural case holds, a move toward $4,000 could attract conviction buyers to scale in. She said the next leg for gold will depend on how geopolitical risk transmits to oil prices, infl

Phillip Nova analyst Priyanka Sachdeva said structural drivers for gold remain despite a recent pullback; spot gold has retraced to about $4,100–4,200/oz and $4,000/oz remains a key level. Fragile Middle East oil-supply flows and ongoing geopolitical uncertainty are sustaining investor interest; if the long-term structural case holds, a move toward $4,000 could attract conviction buyers to scale in. She said the next leg for gold will depend on how geopolitical risk transmits to oil prices, inflation expectations and US Treasury yields.