Gold is rallying on July 02, 2026 as comments from Federal Reserve Chairman Kevin Warsh that inflationary pressures have lessened reduce expectations for further aggressive tightening, supporting non‑yielding assets like gold.[1] U.S. Treasury yields are moderating after prior strength, while renewed geopolitical tension around Iran and security in the Strait of Hormuz is adding a safe‑haven bid to gold prices.[1][6]