Gold Near $4,700: The Chaos Isn’t a Ceiling. It’s a Floor

Gold is holding near all-time highs because five institutional systems are under simultaneous stress: a new Fed chair inheriting uncontrollable inflation, mortgage rates at a six-month high, India’s gold market fracturing under a sudden import duty hike, a US-Iran ceasefire on life support, and a World Bank forecast of 42% precious metals gains in 2026. These aren’t five separate stories. They’re the same story told five ways.
