🔴 Gold ETF (AAAU) is trading 3.4% down in pre-market as oil-supply concerns revive inflation and rate fears

AAAU is trading at $40.86 (-3.35%) as higher oil prices revive inflation and Fed rate-hike fears, weighing on gold.

• President Trump’s rejection of Iran’s Hormuz proposal renewed oil-supply concerns. Reuters reported spot gold and U.S. gold futures each down 1.5% in early trading.
• Treasury yields near 5.19%, softer risk sentiment and lower broad equity futures add pressure. The move tracks gold weakness, not a company-specific catalyst.