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On this day — July 26, 2021
Monday — typically a high-volume trading day as markets digest weekend news. Asian gold imports often see Monday surges in major demand countries.
Day 207 of 365 · Q3 2021 · 56.7% through the year
July 2021 gold market: Range-trading as Delta worries build
Range-boundDelta-driven lower yields offset the Fed's hawkish tilt.
Gold steadied in the $1,800–$1,830 range in July as the spread of the COVID Delta variant pulled bond yields back down, offsetting the Fed's hawkish lean. The metal lacked a clear catalyst in either direction.
What drove gold in July 2021
- Delta variant slowing the yield rise
- Fed taper debate
- balanced dollar
- thin summer liquidity
Themes#COVID Delta variant#consolidation#yields
Key events in July 2021
- Jul 29Gold holds near $1,830 as growth worries cap yields
What happened next
The calm shattered in early August with a sudden flash crash.
For gold buyers
July was a waiting game — a tug-of-war between Delta-driven lower yields and a hawkish Fed left gold going nowhere.