Gold fell roughly $30 to $35 per ounce during May 17-24, pressured by a DXY near 99.32 and rising Treasury yields. FOMC minutes released May 21 reinforced higher-for-longer Fed expectations, extending gold's 16% slide from its January 2026 peak of $5,589. Central banks continue net gold purchases, keeping gold bug targets above $5,000 by end-2026 despite near-term headwinds.