Gold is trading higher amid a drop in the US dollar following the Fed's decision to leave rates unchanged.
Portfolio Pulse from Benzinga Newsdesk
Gold prices have risen as the US dollar weakened after the Federal Reserve decided to maintain interest rates at their current level.
December 13, 2023 | 7:14 pm
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POSITIVE IMPACT
The SPDR Gold Trust ETF (GLD) is likely to experience a positive impact in the short term due to the increase in gold prices following the Fed's decision to leave rates unchanged.
The SPDR Gold Trust ETF (GLD) directly tracks the price of gold. With the Federal Reserve's decision to leave interest rates unchanged, the US dollar has weakened, making gold more attractive to investors holding other currencies. This typically leads to higher gold prices, which should, in turn, increase the value of GLD in the short term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 90