Goldman Sachs Physical Gold ETF is trading 3.1% down today as gold prices weaken following the May CPI report, which showed annual inflation accelerating to 4.2% and raised concerns that interest rates may stay higher for longer.
- Treasury yields and shifting Federal Reserve expectations have returned to focus, prompting investors to trim gold exposure after a significant multi-month rally.
- The ETF is experiencing a sharper decline than major stock indices as the precious metal reprices in response to the latest inflation data.