GLD•GLD slid below $4,120 per ounce after extending its pullback from a two-week high, marking a fresh decline in bullion. Investors weighed shifting US rate-hike expectations alongside renewed shipping threats around the Strait of Hormuz, pressuring gold demand.
Shares of the SPDR Gold Shares ETF fell below $4,120 per ounce after pulling back from a two-week high. The drop underscores renewed selling pressure in gold markets following heightened volatility.
Market participants adjusted US interest-rate expectations ahead of key Federal Reserve commentary, reducing bullion’s appeal. Concurrently, reports of increased shipping threats around the Strait of Hormuz added logistical concerns, further weighing on gold prices.
