On Friday, the SPDR Gold Shares ETF (GLD) settled at $184.82, up $0.07 or +0.04%. Gold Prices Rise on Banking Turmoil Although bullion is considered a hedge against inflation, an increase in interest rates tends to reduce the attractiveness of zero-yielding assets. Despite this, gold prices increased by over 1% in April due to renewed worries about the turmoil in the U.S. banking industry, leading investors to seek out the safety of this asset.