IAU is trading at $80.37 (+4.80%) as gold-linked flows increase following reports of coordinated U.S.–Japan support for the yen, which is weighing on the dollar and supporting bullion.
- Overnight sentiment improved on easing Middle East tensions, with de-escalation around the Strait of Hormuz boosting demand for gold as a strategic hedge.
- The move fits a broader macro backdrop where investors are rotating within markets; IAU’s gain appears driven by the gold macro setup rather than ETF-specific news.