GLDM surged 7% on a missed July jobs report but still trades below its 2026 record, offering a below-peak entry backed by a clear catalyst. GLDM tracks the same LBMA gold benchmark as GLD but charges a fraction of GLD's expense ratio, compounding into meaningful savings over a decade. The Fed, stuck at 3.75% since December, faces sticky Core PCE and a softening jobs market.
This kind of stalemate has historically kept gold well supported. Many financial professionals are salespeople paid on what they push, not whether you end up wealthier. A fiduciary is the opposite.
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Gold ripped higher this month, and SPDR Gold MiniShares Trust (NYSEARCA:GLDM) rode the move up with it. GLDM still trades below the record it set earlier in 2026, and that gap changes the calculation for anyone weighing an allocation today. Buying GLDM here is stepping into a rebound off a depressed base rather than chasing bullion at a new peak, and those are genuinely different propositions.
The catalyst was a badly missed July payrolls print released on August 7. Total nonfarm payrolls came in near 158.86 million, a slight decline from 158.88 million in June, which broke a modest uptrend that had held all spring. Unemployment ticked to 4.1% from 4.2%, but the headline miss was enough to pull rate cut expectations forward.
GLDM is up roughly 7% over the past month and closed near $86. Most Americans suspect they're behind on retirement and never find out. Advisor.com's free matching tool pairs you in about three minutes with a vetted fiduciary advisor who can help you with investing, taxes, retirement, estate planning, and more.
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