GLD is trading 5.2% down today as the Federal Reserve maintained interest rates at 3.50%–3.75% and signaled a hawkish outlook for 2026 due to persistent inflation.
- February PPI data came in hotter than expected, rising 0.7% monthly and 3.4% yearly, further dampening hopes for near-term rate cuts.
- Spot gold retreated from $4,830/oz as rising yields pressured non-yielding assets, contributing to a broader market sell-off that saw the S&P 500 drop 0.78%.
- While Middle East energy shocks boosted oil prices, gold failed to attract safe-haven bids amid the hawkish monetary environment.