GLD is trading 4.9% down today as spot gold prices retreat following the Federal Reserve's decision to maintain interest rates and signal a more restrictive monetary path through 2026.
- The Fed's hawkish stance and hotter-than-expected Producer Price Index data (0.7% vs. 0.3% forecast) are driving real yields higher, outweighing safe-haven demand from Middle East tensions and surging oil prices.
- Broader market weakness is creating additional headwinds for the precious metal, with the S&P 500 down 0.58% and the VIX rising to 26.83 as inflation concerns outweigh geopolitical uncertainty.