After a volatile start to the year, gold now faces a pivotal second half that will be shaped by unpredictability from geopolitics, rates, and investor sentiment, according to the Gold Mid-Year Outlook 2026 released by the World Gold Council today. Gold set more than 12 all-time highs and reached a record US$5,405/oz in late January before pulling back sharply to a low of US$4,002/oz in June, a swing that resulted in a 7% year-to-date drop in price and an increase in average volatility to 30%.