Shares of precious metals stocks are trading lower as gold and silver drop amid a rise in the US dollar following a stopgap bill, which averted a potential government shutdown.
Portfolio Pulse from Benzinga Newsdesk
Shares of precious metals stocks are trading lower due to a rise in the US dollar following a stopgap bill, which averted a potential government shutdown. Companies like AEM, FCX, GOLD, HL, NEM, PAAS, WPM are affected.
October 02, 2023 | 4:39 pm
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NEGATIVE IMPACT
AEM's stock is trading lower due to the rise in the US dollar.
AEM's stock is directly affected by the price of precious metals, which is inversely related to the strength of the US dollar. The rise in the US dollar following the stopgap bill is causing a drop in the price of precious metals, leading to a decrease in AEM's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
FCX's stock is trading lower due to the rise in the US dollar.
FCX's stock is directly affected by the price of precious metals, which is inversely related to the strength of the US dollar. The rise in the US dollar following the stopgap bill is causing a drop in the price of precious metals, leading to a decrease in FCX's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
GOLD's stock is trading lower due to the rise in the US dollar.
GOLD's stock is directly affected by the price of precious metals, which is inversely related to the strength of the US dollar. The rise in the US dollar following the stopgap bill is causing a drop in the price of precious metals, leading to a decrease in GOLD's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
HL's stock is trading lower due to the rise in the US dollar.
HL's stock is directly affected by the price of precious metals, which is inversely related to the strength of the US dollar. The rise in the US dollar following the stopgap bill is causing a drop in the price of precious metals, leading to a decrease in HL's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
NEM's stock is trading lower due to the rise in the US dollar.
NEM's stock is directly affected by the price of precious metals, which is inversely related to the strength of the US dollar. The rise in the US dollar following the stopgap bill is causing a drop in the price of precious metals, leading to a decrease in NEM's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
PAAS's stock is trading lower due to the rise in the US dollar.
PAAS's stock is directly affected by the price of precious metals, which is inversely related to the strength of the US dollar. The rise in the US dollar following the stopgap bill is causing a drop in the price of precious metals, leading to a decrease in PAAS's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
WPM's stock is trading lower due to the rise in the US dollar.
WPM's stock is directly affected by the price of precious metals, which is inversely related to the strength of the US dollar. The rise in the US dollar following the stopgap bill is causing a drop in the price of precious metals, leading to a decrease in WPM's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100