RBC Capital Markets
July 12, 2026
The Gold Standard Market Review
Market ReportCommoditiesEquitiesFXEnergyFinancials
This report provides a weekly update on global market indices, precious metals, and commodities. It highlights a 1.2% gain in the S&P 500 alongside a weakening in precious metals and specific gold equity price performance.
Key Takeaways
- 1.Global equity, commodity, and currency markets showed mixed performance; S&P500 up 1.2% while gold and silver prices declined.
- 2.10Y US Treasury yields increased by 8bps to 4.56%, driven by rises in both real yields and inflation expectations.
- 3.Short interest in gold equities saw notable increases across several companies including Triple Flag, Eldorado Gold, and I-80 Gold.
Table of Contents
- Index performance
- Commodity and currency performance
- Commodity and currency trends
- Gold macroeconomic charts
- Fixed income charts
- Gold equity ETF positions
- Global physical gold ETF positions
- Global physical silver ETF positions
- Gold and silver net speculative CFTC positioning
- CFTC net speculative positioning
- Fixed income mining securities
- Gold equity short interest
- Gold equity performance
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Authors
Josh WolfsonHarrison Reynolds
Securities
SPXXAUEI7766054
Themes
Precious Metals Market CorrectionRising US Treasury Yields
Regions
GlobalNorth AmericaUnited StatesCanadaBrazil
