On June 15, SPDR Gold Trust rose 3.4% in regular trading, trading at $399.67/share, with turnover of $915 million. The rally was driven by news that the United States and Iran reached a temporary peace agreement, fueling expectations for the resumption of navigation through the Strait of Hormuz.
The geopolitical breakthrough triggered a sharp decline in international oil prices, significantly easing global inflation pressures. Spot gold surged over 3% intraday to $4,344.87/oz. CME data showed a 98.5% probability of rates remaining unchanged in June, and if rate-hike expectations continue to fade, gold prices could receive further support. The agreement marked a notable shift in sentiment for the precious metals market, which had been under sustained selling pressure in prior sessions.
SPDR Gold Trust is an investment trust whose objective is for shares to reflect the performance of gold bullion prices, less expenses. The Trust creates and redeems shares in baskets of 100,000 through authorized participants, with creation and redemption based on the combined net asset value determined on the order date.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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