Gold Surges Past $4,495 as Traders Eye US Data, Shrug Off Venezuela Risk

• Gold climbed 1.1% to over $4,495 an ounce, with silver rallying for a third day, as traders focused on US economic data over Venezuela tensions.
• Initial geopolitical uncertainty from the US capture of Nicolás Maduro provided a short-term safe-haven boost for gold, but its impact is seen as limited.
• Weaker-than-expected US manufacturing data bolstered hopes for Fed rate cuts, further supporting non-interest bearing bullion.
• Gold posted its best annual performance since 1979, hitting record highs, driven by central bank buying and ETF inflows.
• Goldman Sachs forecasts gold to rally to $4,900 an ounce, though commodity index rebalancing could create near-term pressure.

Why It Matters: Gold and silver rally on US rate cut hopes, overshadowing Venezuela risks; further gains predicted.