🔴 Commodities Focused ETF (IAUM) is trading 3.1% down today as Warsh signals higher-for-longer rates

IAUM is trading 3.1% down today as hawkish remarks from Federal Reserve Chair Kevin Warsh lifted higher-rate expectations.

• Spot gold was down 0.8% by 10:11 a.m. ET as Treasury yields moved higher, increasing the opportunity cost of holding non-yielding gold.
• The decline follows gold’s rally toward $4,700 per ounce, prompting long-position liquidation; broader equity indexes remained comparatively stable, pointing to macro-driven positioning rather than company-specific news.