PHYS is trading at $29.30 (-3.50%), with bullion weakness providing the clearest context for its decline. - Reuters reported Oct. 30 that gold hit a 3½-month low as rising crude prices and persistent inflation concerns strengthened expectations of U.S. interest-rate hikes; spot gold was down 1% in its reported session update. - Bloomberg also linked gold’s decline to the tech-stock selloff and inflationary oil-price pressure; these are commodity and macro drivers, not a PHYS-specific announcement.