🔴 GLD is trading 3.1% down today on hawkish Fed outlook and hot PPI data

GLD is trading 3.1% down today as spot gold retreats from $4,830/oz following a hawkish Federal Reserve outlook and hotter-than-expected inflation data.

• The Federal Reserve held interest rates at 3.50%–3.75% on March 18, 2026, projecting zero to one cut for the year amid persistent inflation.
• February PPI rose 0.7% (vs. 0.3% expected), fueling hawkish signals and driving higher yields which pressure non-yielding assets.
• While Middle East tensions are boosting energy costs, the resulting higher yield environment is outweighing safe-haven demand for the metal.