Gold Tops $4,000 as Gulf Tensions and Chip Sell-Off Drive Risk-Off Rotation

Spot gold rose 0.9% to $4,004.61 per ounce on July 16, 2026, breaching $4,000 for the first time. The 10-year Treasury yield eased two basis points — that's hundredths of a percentage point — to roughly 4.54% on July 17. The twin bid for gold and long-duration Treasuries signals a risk-off rotation: Gulf tensions, oil-driven inflation worries, and a semiconductor sell-off rippling through global equities.