Gold entered the second half of 2026 with renewed strength, reclaiming the important $4,000 level during the opening week of July as a weaker US dollar offset the impact of rising Treasury yields. However, the rally lost momentum last week after the latest FOMC minutes revealed a more hawkish tone under new Federal Reserve Chair Kevin Warsh. Policymakers signaled growing concern that inflation could remain elevated for longer than previously anticipated, prompting markets to scale back expectations for future rate cuts. The shift in rate expectations pushed Treasury yields higher and strengthened the dollar, creating ... (full story)