SPDR Gold Trust tumbles, as Fed minutes signal higher interest rates

SPDR Gold Trust (GLD.BA) shares declined today as gold prices fell by more than 1.5%.

The Federal Reserve released minutes from its latest policy meeting revealing a hawkish stance. Several officials indicated a willingness to raise interest rates if inflation does not continue to trend downward.

Higher interest rates increase the opportunity cost of holding non-yielding assets like gold. This shift triggered significant outflows from the GLD ETF as investors sold off holdings.