🔴 Gold ETF (GLD) is trading 4.9% down today on hawkish Fed outlook and hot PPI data

GLD is trading 4.9% down today on a hawkish Fed outlook and hot PPI data as spot gold retreats from $4,830/oz.

• The Federal Reserve held rates at 3.50%–3.75% on March 18, signaling zero to one cut for 2026 due to persistent inflation concerns.
• Hot February PPI data (0.7% vs. 0.3% expected) and Middle East energy shocks driving oil to $115+/bbl fueled the sharp selloff.
• Broader markets fell 0.4-0.6% as the VIX rose to 26.83, amplifying pressure on gold as a risk-off asset.