🟢 Gold Producers ETF (IS0E.DE) is trading 3.1% up as gold reaches a seven-week high

IS0E.DE is trading at €34.73 (+3.09%) as gold reached a seven-week high near $4,285.84 on August 6, supporting producers.

• Weaker oil, a softer dollar, and lower Treasury yields reduced expected Fed tightening.
• Hopes for reopening the Strait of Hormuz eased inflation fears and boosted bullion sentiment.
• Gold miners amplified bullion’s move, with GDX up 7.39% on August 5.