🟢 GLD is trading 3.1% up today on rate cut speculation and geopolitical risk

GLD is trading 3.1% up today as cooling labor market data fuels rate cut speculation and weakens the US Dollar.

• Broader equity strength and positive futures (+0.3-0.7%) are supporting the move following yesterday's JOLTS report which signaled a stabilizing labor market.
• Geopolitical risk premiums have increased following a naval incident between Iran and the US in the Middle East, boosting safe-haven demand.
• The upward move is sustained amid a quiet economic calendar with no major data releases scheduled for today.