XGD.TO is trading 3.2% down today as investors react to escalating U.S.–Iran hostilities and the announced closure of the Strait of Hormuz, which are roiling global markets.
- Geopolitical tensions and the closure of the Strait of Hormuz are driving a broad risk-off shift across global asset classes.
- Despite gold's traditional safe-haven status, tech-led equity weakness and cross-asset volatility are creating mixed flows that pressure gold-related equities.
- The iShares S&P/TSX Global Gold Index-linked ETF remains under pressure as market participants navigate heightened regional instability.