🔴 GLD is trading 3.1% down today as geopolitical tensions re-escalate following Iran's denial of ceasefire claims

GLD is trading 3.1% down today, reversing yesterday's 1.75% gain as initial ceasefire optimism fades and geopolitical tensions re-escalate.

• Iranian officials denied ceasefire claims, vowing to keep the Strait of Hormuz closed and issuing threats against U.S. tech companies, triggering a broad risk-off shift that saw the S&P 500 drop 1.1% and the Nasdaq fall 1.45%.
• The decline in gold coincides with a 4.95% drop in Brent crude, suggesting growing concerns over demand destruction as investors reassess safe-haven positioning.
• Market participants are bracing for heightened volatility and further clarity ahead of President Trump's scheduled 9 p.m. ET address.