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Steve Forbes: Gold Down 20% Since January Peak Near $5,600 Reflects Dollar Strength, Not Weakness

2026-07-22 21:57:57

According to Steve Forbes, Chairman and Editor-in-Chief of Forbes Media, gold prices have declined significantly since reaching near $5,600 per ounce in late January, but this reflects a rally in the U.S. dollar rather than a loss of gold's intrinsic value. Forbes stated that the dollar's strength stems from the Trump Administration halting discussions about currency devaluation and new Federal Reserve Chair Kevin Warsh's focus on stabilizing the currency. Despite the recent pullback, gold remains up more than 20% compared to last summer. Forbes cautioned that geopolitical risks—particularly the Iran war potentially driving energy prices higher—could pressure interest rates and trigger international monetary instability.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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