Shares of precious metals companies are trading higher amid a drop in the US dollar following the Fed's decision to leave rates unchanged.
Portfolio Pulse from Benzinga Newsdesk
Precious metals companies' stocks are up as the US dollar weakens after the Federal Reserve decided to maintain interest rates.
December 14, 2023 | 5:39 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Franco-Nevada Corporation's stock is likely to see a positive impact in the short term due to the weakened US dollar following the Fed's decision.
As a precious metals company, Franco-Nevada's stock typically benefits from a weaker US dollar, which makes gold and other metals more affordable in other currencies, potentially increasing demand.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Gatos Silver, Inc. shares are expected to experience a short-term uplift due to the decline in the US dollar after the Fed's unchanged rate decision.
Gatos Silver, Inc. stands to benefit from the lower US dollar as it can potentially increase the global demand for silver, positively affecting the company's stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Gold Fields Limited's stock may see an upward movement in the short term as the US dollar weakens, following the Fed's decision to keep rates steady.
Gold Fields Limited is likely to benefit from the decreased value of the US dollar, as gold prices often increase when the dollar weakens, potentially boosting the company's stock.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Newmont Corporation's shares are anticipated to rise in the short term due to the US dollar's decline after the Federal Reserve's decision to leave rates unchanged.
As the US dollar drops, Newmont Corporation, a gold mining company, may see increased demand for gold, which is priced in dollars, potentially leading to a rise in its stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Sibanye Stillwater Limited's stock is likely to benefit in the short term from the weakening US dollar after the Fed's decision to hold interest rates.
Sibanye Stillwater Limited, which deals in precious metals, may see a positive impact on its stock price as the weaker dollar could boost metal prices and demand.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80