iShares Gold Trust Micro is trading 3.2% down today as stronger-than-expected U.S. jobs data reduces hopes for near-term Federal Reserve rate cuts, pressuring gold prices.
- The May Employment Situation report showed 172,000 jobs added and a steady 4.3% unemployment rate, supporting a more hawkish policy path for the Fed.
- Rising real yields and a stronger U.S. dollar following the report are creating headwinds for gold and gold-focused ETFs.
- While broader market risk sentiment is currently weak, the decline in IAUM is primarily tied to macro-driven weakness in the precious metals sector.