iShares Gold Trust is trading 3.2% down today as gold prices retreat following the latest U.S. CPI release, which reinforced expectations that the Federal Reserve will keep interest rates elevated.
- The inflation data has pressured real yields higher, increasing the opportunity cost for holding non-income-producing assets like gold.
- The decline in underlying gold prices is pulling the ETF lower more sharply than major equity indices amid a broader market risk-off move.