🔴 GLD is trading 4.9% down today as Fed signals fewer cuts amid hot PPI data

GLD is trading 4.9% 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 rates at 3.50%–3.75% on March 18 and signaled zero to one cut for 2026, citing persistent inflation concerns.
• February PPI data rose 0.7%, exceeding expectations and strengthening the case for a higher-for-longer interest rate environment.
• Broader markets are also under pressure with the S&P 500 down 0.55%, even as Middle East tensions drive oil prices higher.