---
type: structural-review
status: prepopulated
event-id: gld-nav-20260622T1600-1782158400
asset: GLD (SPDR Gold Shares)
session: 2026-06-22
generated: 2026-06-22T23:03:03+02:00
source: yfinance daily closes
---

# GLD NAV Review — Mon Jun 22, 2026

## Headline
GLD closed at $384.59 (-0.65% vs Thu Jun 18 close $387.12; Fri Jun 19 was Juneteenth, US markets closed).

## Price action
| Field | Value |
| --- | --- |
| GLD close | $384.59 |
| Prior close (Thu Jun 18) | $387.12 |
| Day-over-day | -$2.53 (-0.654%) |
| Mon Jun 22 range | $384.25 – $386.41 |

## Cross-asset
| Instrument | Close | Day Δ |
| --- | ---: | ---: |
| Spot gold (GC=F) | $4,209.80 | -0.34% |
| GLD | $384.59 | -0.65% |
| IAU | $78.80 | -0.67% |
| SLV (silver) | $58.91 | -1.01% |
| 10Y yield (^TNX) | 4.51% | +6 bps |

GLD lagged spot gold by ~31bps — modest premium compression or light flow-driven selling into the close. Silver underperformed gold, weakening the Au/Ag ratio signal.

## Rates backdrop
10Y yield up 6bps to 4.51% — the dominant macro driver of the session. Higher real yields remain the structural headwind for non-yielding gold.

## Implications
- Soft tape for precious-metals ETFs on a rates-led session; not a positioning shock
- No flow data available from price action alone — NAV update is mechanical, not informational beyond the print
- Watch: if 10Y holds above 4.50%, GLD's recent consolidation likely continues lower; if yields fade, GLD should re-converge with spot