🔴 Gold ETF (AAAU) is trading 3.45% down as oil-driven rate fears pressure gold

AAAU is trading at $40.82, with a -3.45% change, as oil-driven rate-hike expectations pressured gold.

• The White House’s rejection of Iran’s Hormuz proposal revived fears of disrupted oil flows; Brent rose as high as 2.5% to $109.6, intensifying inflation concerns.
• Higher oil prices reinforced expectations of Fed rate hikes, while a firmer dollar and rising Treasury yields pressured gold; spot gold fell more than 2%.
• AAAU’s move tracks weakness in its gold exposure.