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Gold ETF GLD drops nearly 4%, hitting lowest in 2 months amid rising rates and oil price fears.

Market News
30 Sep 2026
24/7 Wall Street
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Bearish
Gold ETF GLD drops nearly 4%, hitting lowest in 2 months amid rising rates and oil price fears.

Gold experienced its largest single-day drop in over two months, with the SPDR Gold Trust (GLD) falling 3.94% and gold prices down 3.54%. This decline was driven by external factors including rising US interest rates and increased oil prices after geopolitical tensions, which raised inflation concerns. Despite the recent selloff, long-term gold holders remain largely unscathed, with GLD still up nearly 9% over the past year and over 130% in five years. Analysts expect short-term pressure from higher yields but maintain a positive long-term outlook for gold prices if inflation fears ease and interest rates stabilize.

Gold on Pluang trades at USD 383.50 as of Sep 30, 2026 18:31 WIB, showing a slight 1-day gain of 0.16%. The SPDR Gold Trust (GLD) remains well below its 52-week high of USD 495.90. Despite recent volatility, most Pluang users hold GLD with a typical hold time of 72 days and a strong buy interest at 94%.

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