GLD is trading 4.9% down today as spot gold retreats from $4,830/oz following the Federal Reserve's hawkish policy stance and higher-than-expected inflation data.
- The Fed maintained interest rates at 3.50%–3.75% and signaled zero to one rate cut for 2026, citing persistent inflation concerns after February PPI rose 0.7% (vs. 0.3% expected).
- Rising energy costs, with Brent crude climbing above $115/bbl due to Middle East tensions, are further intensifying inflationary pressures and weighing on gold's appeal as a non-yielding asset.