Gold Stock ETF GDX Soars 6% Higher as Gold Price Climbs on Iran Ceasefire: 04/08/26
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Gold stocks, particularly the GDX ETF, rose 6% following a ceasefire agreement between the U.S. and Iran, which alleviated tensions in the Middle East. The deal, reached just before a deadline set by President Trump, included the opening of the Strait of Hormuz. This development led to a drop in oil prices, reducing inflationary pressures and benefiting gold prices, which increased by 1.71% to $4,783 despite a recent decline of nearly 10% over the past month.
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