SPDR Gold Shares (GLD) fell on Tuesday, May 5, 2026. Spot gold prices plunged more than 2%, dropping over $102 to settle near $4,527 per ounce. This decline marks a correction from record highs established earlier this year.
A stronger U.S. dollar and rising Treasury yields drove the sell-off. Higher yields reduced the investment appeal of non-yielding assets. Investors also tempered expectations for aggressive Federal Reserve rate cuts following data showing U.S. economic resilience.