Economic updates were at the fore last week. In the US, weak jobs data and softer manufacturing activity reduced expectations of near-term Fed tightening. Eurozone inflation eased while unemployment remained stable. In Asia, economic activity strengthened in China and Japan, while India’s service sector momentum slowed. • Major global equity markets advanced over the week, while benchmark Treasury yields rose and crude oil prices and the US dollar eased. • Following a roller-coast ride in H1, gold’s H2 potential is in question. Our recently published Gold Mid-Year Outlook 2026 discusses several possible scenarios. In ... (full story)