CGL.TO, which directly tracks gold bullion in CAD with currency hedging, is up about 3.1% versus its last close, trading at $31.50 on July 02, 2026. The move aligns with a broader bid for safe‑haven assets as geopolitical tensions around Iran and the Strait of Hormuz lift risk premia and support gold prices, while moderating Fed inflation concerns and steady labor tightness keep real yields and policy expectations supportive for bullion.[4][6][1]