Shares of precious metals companies are trading lower as safe-haven assets pull back on US debt ceiling optimism.
Portfolio Pulse from Benzinga Newsdesk
Precious metals stocks are trading lower due to optimism surrounding the US debt ceiling, causing a pullback in safe-haven assets.
May 18, 2023 | 3:47 pm
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NEGATIVE IMPACT
AEM's stock price is trading lower as optimism around the US debt ceiling weakens demand for safe-haven assets.
As optimism around the US debt ceiling increases, investors are less likely to seek safe-haven assets like precious metals, causing a negative impact on AEM's stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 75
NEGATIVE IMPACT
GOLD's stock price is trading lower due to increased optimism surrounding the US debt ceiling, leading to a pullback in safe-haven assets.
The rise in optimism around the US debt ceiling reduces the demand for safe-haven assets like precious metals, negatively impacting GOLD's stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 75
NEGATIVE IMPACT
NEM's stock price is trading lower as optimism regarding the US debt ceiling results in a pullback in safe-haven assets.
Increased optimism around the US debt ceiling is causing investors to move away from safe-haven assets like precious metals, negatively affecting NEM's stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 75
NEGATIVE IMPACT
WPM's stock price is trading lower due to optimism surrounding the US debt ceiling, causing a pullback in safe-haven assets.
As optimism around the US debt ceiling increases, the demand for safe-haven assets like precious metals decreases, negatively impacting WPM's stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 75