GLD is trading at $427.65 (up 3.15%) as investors rotate into safe-haven assets following signals of military de-escalation with Iran and Federal Reserve Chair Jerome Powell's dovish policy remarks.
- Powell's reassurance that the central bank may overlook temporary energy shocks helped ease recession fears and reduced expectations for aggressive rate hikes.
- The surge in gold reflects a broader market recovery, with the S&P 500 and Nasdaq gaining as subdued Treasury yields bolster the metal's appeal as an inflation hedge.
- Investors are balancing geopolitical risks against improved policy signals, driving demand for gold as an alternative to lower-yielding bonds.