GLD is trading 5.5% down in after-hours following a hotter-than-expected PPI report and a hawkish interest rate outlook from the Federal Reserve.
- Wholesale inflation rose 0.7% monthly (3.4% YoY), while the Fed signaled zero to one rate cut in 2026 due to inflation risks from $110 oil and the Strait of Hormuz crisis.
- A strengthening U.S. dollar is pressuring gold prices, overriding traditional safe-haven demand despite escalating geopolitical tensions in the Middle East.