Why did GLD move on Jun 11, 2026?
17:16 ET · AI-sourced explanation · gemini-flash-latest
The SPDR Gold Shares ETF (GLD) spiked on June 11, 2026, as gold prices staged a sharp intraday recovery from multi-month lows. The move was catalyzed by a sudden de-escalation in Middle East geopolitical tensions when President Donald Trump called off planned military strikes and announced that a "great settlement" with Iran was close. This breakthrough raised hopes of a permanent peace deal and the reopening of the Strait of Hormuz, causing a sharp reversal in the commodity and rates markets.