Buy GLD by Nov 18, 2026.

Gold spiked sharply toward $4500, gold miners rallied nearly 10%,, long-dated Treasuries pulled back and the dollar softened all at once — and no, this isn’t QE. The scale of the policy tweak is tiny next to the $40T Treasury market, but that’s exactly the point. When a small, uncoordinated announcement triggers this kind of cross-asset jolt, it’s not about the new liquidity itself. It’s the credibility signal: the old free-market Treasury pricing regime is over, and the Fed has …