GLD is trading 4.7% down today after the Federal Reserve held interest rates at 3.50%–3.75% and signaled a hawkish path forward with projections for zero to one rate cut in 2026.
- Persistent inflation concerns were amplified by February PPI data, which rose 0.7% monthly (3.4% YoY), significantly exceeding analyst forecasts and fueling the selloff.
- Gold prices retreated from the $4,830/oz level as the central bank's "higher-for-longer" stance outweighed safe-haven demand stemming from Middle East energy shocks.
- Broader market sentiment remains under pressure, with the S&P 500 falling 0.51% in response to the Fed's updated economic projections and the hot inflation print.