🟢 Gold ETF (GLD) is trading 3.4% up today as larger Treasury buybacks lower yields

GLD is trading at $412.05 (+3.39%) as the U.S. Treasury’s announcement of larger liquidity-support buybacks for longer-dated bonds sharply lowers Treasury yields and weakens the dollar, reducing gold’s opportunity cost and increasing demand for the non-yielding metal.

• Geopolitical risk involving the U.S.-Iran conflict and Strait of Hormuz attacks is adding safe-haven support.
• Investors await the 2:00 p.m. FOMC minutes for rate-hike clues.