EL7.AI
Macro EconomyMediumUpdated•Originally published 6 July 2026•Updated 6 July 2026•
1 min read

Gold and Bitcoin Rally as US Inflation Cools and Labor Market Slows

Machine containing a gold bar and Bitcoin coin, featuring an inflation gauge and a folder showing declining US jobs.

Key Facts

1Inflation turned negative as the Strait of Hormuz reopened and oil prices slid.
2US jobs data cooled, leading to an unwinding of Federal Reserve rate-hike bets.

In a move reflecting a radical shift in the global macroeconomic landscape, non-yielding assets such as gold and cryptocurrencies are seeing increased demand as monetary policy expectations pivot. According to reports, inflation has turned negative following the reopening of the Strait of Hormuz, which led to a slide in global oil prices. Additionally, cooling US jobs data has prompted investors to unwind bets on further Federal Reserve rate hikes.

This bullish momentum arrives as regional data confirms a broader slowdown in price pressures, with annual inflation rates hitting 1.8% in France and 2.3% in Germany per market data (close June 30, 2026). Compared to the previous quarter, the sudden drop in energy costs due to stabilized supply through Hormuz has eased the geopolitical anxieties that previously bolstered the US Dollar, clearing a path for gold and Bitcoin to rally.

Looking ahead, traders are closely monitoring upcoming releases for consumer confidence and JOLTs job openings to gauge the depth of the economic slowdown. In the absence of real-time price data, focus remains on technical support levels for key assets. Furthermore, speeches from central bank officials, including ECB's Lagarde, will serve as critical catalysts for determining capital flows in the coming week.