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With the rising tensions between the United States of America and Iran, gold and the SPDR Gold Trust ETF (GLD) have gained about 6% within just a few trading days, which is quite a lot for the precious metal. After gold rallied from $1,270 in May 2019 to about $1,550 in August 2019, the price was in a corrective phase in the months following August. Due to the geopolitical situation and the looming military conflict between the United States and Iran, that corrective phase ended very suddenly.