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Jul 12 at 10:14 PM
Gold → closed at around $4,112 on Friday, then fell towards $4,060 at the beginning of this week due to rising inflation and interest rate hike expectations triggered by escalating tensions in the Strait of Hormuz, which pushed up real yields (this is a headwind for gold in 2026).
With the war and interest rate hikes and cuts being unpredictable, and as storage/computing power stocks surged and chip stocks provided strong support, the US dollar index weakened, and the safe-haven appeal of precious metals declined.
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