🔴 GLD is trading 5.5% down today on hawkish Fed outlook and hot PPI data

GLD is trading 5.5% lower today as spot gold retreats from $4,830/oz following a hawkish Federal Reserve meeting and persistent inflationary pressures.

• The Fed held interest rates at 3.50%–3.75% on March 18, signaling zero to one cut for 2026 as the central bank remains cautious about inflation.
• Hot February PPI data (+0.7% vs. 0.3% expected) and a Middle East energy crisis driving oil to $118/bbl have reinforced the Fed's restrictive stance, weighing heavily on gold prices.