Oil-Driven Inflation Forces a $1.2 Billion Liquidation of Gold ETFs

The SPDR Gold Shares (GLD) recorded $1.2 billion in outflows over a 48-hour window ending April 14, 2026. Investors are liquidating precious metals positions to cover margin calls and pivot into high-yielding dollar-denominated assets. This flight to the US Dollar follows a signal from the Federal Reserve to return to interest rate hikes to combat oil-induced stagflation. The shift in monetary policy was triggered by a surge in energy costs. Brent crude futures rose 7% to settle at $103.24 per barrel after the United States military enforced a blockade of Iranian ports and restricted traffic through the Strait of Hormuz on April 13, 2026. This energy shock pushed the national average for US gasoline prices above $4.00 and contributed to March CPI data reaching a four-year high. COMEX gold fell to $4,650 per ounce.