🔴 Commodities ETF (IAU) is trading 3.56% down as rising oil prices revive inflation concerns

IAU is trading at $77.79 (-3.56%) as rising oil prices revived inflation concerns and expectations of further Federal Reserve rate hikes.

• Reuters reported spot gold down 2.7% early Monday.
• President Trump’s rejection of Iran’s Hormuz proposal helped push oil prices and Treasury yields higher, adding pressure to non-yielding bullion.
• IAU’s larger decline was consistent with the gold selloff; broader risk-off conditions and higher yields reinforced the move.