CGL.TO is trading at CA$31.88 (+3.17%) as gold prices rally amid easing Treasury yields and firmer bond demand.
- The move is consistent with a broader gold rally, as bullion-linked ETFs typically rise when the underlying commodity strengthens.
- Easing Treasury yields and increased bond demand are supporting non-yielding assets like gold, which is also benefiting from a macro and safe-haven bid.
- While broader market risk appetite remains elevated, gold continues to attract buyers as a hedge against macroeconomic uncertainty.