Higher yields and a stronger dollar may weigh on GLD because it holds gold, which pays no interest. Strong gold-fund buying and gold's rise over the past year point the other way, leaving no clear change in its outlook.
GLD holds physical gold, which pays no interest. When bond yields rise, some investors may favor assets that pay interest instead. Still, gold-fund purchases surged in August, and the article says gold remained up over the past year. Those opposing signs leave no clear reason to change GLD's outlook.
Higher yields and a stronger dollar may weigh on IAU because it holds gold, which pays no interest. Strong gold-fund buying supports it, and it offers similar exposure for a lower fee, so the story points in mixed directions.
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