GLD is trading 5.8% down today as gold prices retreat following the Federal Reserve's decision to maintain rates and signal a more hawkish path for 2026.
- The Fed held interest rates at 3.50–3.75% and projected only one rate cut for 2026, while Producer Price Index (PPI) data came in at 0.7%, significantly higher than the 0.3% forecast.
- Gold futures fell toward $4,880/oz as a strengthening U.S. dollar and elevated Treasury yields reduced the metal's appeal, outweighing safe-haven demand from Middle Eastern instability.
- Broader risk-off sentiment is pressuring precious metals across the board as energy prices spike and equity markets experience a sharp sell-off.