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GOLD HITS RECORD HIGH AMID MIDDLE EAST TURMOIL

- Moving the market
The markets opened with a thud today after Israel launched a wave of airstrikes on Iran, sending shockwaves through global markets and pushing crude oil prices up a sharp 8%.
The sudden escalation added yet another layer of uncertainty to an already tense geopolitical landscape.
Israel’s defense minister declared a special state of emergency, while U.S. officials were quick to distance themselves, confirming no involvement in the strikes. The ripple effects were immediate—energy prices surged, inflation fears reignited, and gold jumped as investors rushed to safety.
President Trump is once again urging Iran to return to the negotiating table for a nuclear deal, after the last attempt two months ago fizzled out.
On a brighter note, consumer sentiment surprised to the upside, climbing to 60.5 in June—well above expectations and marking a nearly 16% jump from the previous month.
Still, it was a rough day for stock indexes. The S&P 500 lost its grip on the 6,000 level, and even the Mag7 and heavily shorted names couldn’t stop the bleeding.
Bond yields, which had been sliding all week, bounced back after Iran’s retaliation. The dollar ended the week slightly higher, while Bitcoin—often seen as a safe haven—closed lower.
And gold? It stole the spotlight, gaining 1.48% on the day and notching a record closing high. In times like these, it’s hard to argue against its reputation as a crisis-proof asset.
With so many moving parts—from oil to inflation to global conflict—as trend followers, we’re built for moments like this—riding the waves, not fighting them.
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