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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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