GLD is trading at $380.86 (-3.19%) in pre-market as firmer oil prices revive inflation concerns and expectations of further Federal Reserve rate hikes.
- Reuters reported gold fell more than 1% on September 28 for these reasons.
- Trump’s rejection of Iran’s Hormuz proposal renewed oil and geopolitical concerns; elevated Treasury yields raise the opportunity cost of holding non-yielding gold.
- This is a premarket indication; volume data is unavailable.