🔴 Gold ETF (GLDM) is trading 3.56% down on September 28, 2026, as oil and yields climb

GLDM is trading at $81.87 (-3.56%) as higher energy costs and Treasury yields weigh on gold.

• President Trump’s rejection of Iran’s Hormuz proposal renewed supply concerns; Brent crude rebounded more than 3%, reviving inflation fears.
• Higher energy costs and elevated Treasury yields strengthened expectations of further Fed tightening, weighing on non-yielding gold.
• GLDM’s drop reflects broad bullion weakness, not an issuer-specific catalyst. Reports confirm gold was falling, though reported spot-market declines varied by time and source.