PHYS is trading 3.52% lower at $31.21 in pre-market amid a sharp decline in gold, as rising oil prices and higher U.S. bond yields fueled inflation concerns and expectations of tighter Fed policy.
- Spot gold fell 2.6% to around $4,170 an ounce.
- The reported backdrop included President Trump rejecting Iran’s Strait of Hormuz proposal. No PHYS-specific announcement explaining the decline surfaced in the available search results.
- Broader U.S. futures were also lower, though the provided index moves were less than 0.5%.