🟢 SPDR Gold Shares is trading 3.1% up today as Iran closes the Strait of Hormuz and PPI data fuels inflation fears

SPDR Gold Shares is trading 3.1% up today as safe-haven demand surges following Iran's closure of the Strait of Hormuz and new data confirming persistent inflation.

• The rebound follows a sharp selloff on June 10, which was triggered by hotter-than-expected CPI data and a spike in real yields.
• Energy prices have surged globally after the geopolitical escalation in the Middle East, prompting investors to rotate back into gold as a primary hedge.
• Despite uncertainty regarding future Federal Reserve policy, the combination of geopolitical risk and sticky PPI data has revitalized the bid for bullion.