Gold Outlook H2 2026: Fed Hopes Boost Recovery

SEATTLE (Scrap Monster): Gold entered the second half of 2026 with renewed strength after ending a five-week losing streak, as softer U.S. economic data reduced expectations of additional Federal Reserve policy tightening, said the Weekly Markets Monitor Report published by the World Gold Council (WGC).

The LBMA Gold Price PM climbed 2.3% over the past week to US$4,164 per ounce, cutting its year-to-date decline to 4.7%. Market sentiment improved after weaker U.S. jobs and manufacturing data.

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According to analysts, gold is expected to trade within a broad range for the remainder of the year if global growth remains steady and inflation reports a gradual cool-off. At the same time, weaker economic conditions and rising geopolitical risks could provide additional support for bullion prices.

Technical indicators suggest gold may have established a short-term base after holding above key support near US$4,075 per ounce. The initial resistance for the yellow metal is seen around US$4,306 per ounce, while stronger resistance lies between US$4,382 and US$4,483 per ounce.

Market participants will closely monitor the release of the June Federal Open Market Committee (FOMC) meeting minutes for further clues on U.S. interest rate policy. Any signs of a softer monetary stance could strengthen gold's recovery in the forthcoming months.