Shares of precious metals stocks are trading lower amid a rise in the US dollar following a greater-than-expected increase in January inflation.
Portfolio Pulse from Benzinga Newsdesk
Precious metals stocks are trading lower due to a rise in the US dollar, which was influenced by a higher-than-expected increase in January inflation.
February 13, 2024 | 4:57 pm
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NEGATIVE IMPACT
AEM's stock is trading lower as the US dollar's rise impacts precious metals negatively.
AEM, being a precious metals stock, is directly impacted by the strength of the US dollar, which inversely affects precious metals prices.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
AGI's stock is trading lower due to the strengthening US dollar following unexpected inflation data.
AGI, as a participant in the precious metals market, is adversely affected by the US dollar's rise, which typically decreases precious metals demand.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
CDE's stock price declines in response to the US dollar's appreciation, influenced by higher January inflation.
CDE's performance is negatively correlated with the US dollar's strength, which is detrimental to precious metals prices and demand.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
CGAU experiences a downturn as the US dollar rises, driven by unexpected inflation figures.
CGAU is impacted by the US dollar's strength, which inversely affects the value of precious metals, leading to lower stock prices.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
EGO's stock trades lower amid a strengthening US dollar, a consequence of higher-than-expected inflation.
EGO, a precious metals stock, is adversely affected by the US dollar's rise, which typically leads to decreased demand for precious metals.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
FCX sees its stock price fall in response to the US dollar's gain, influenced by unexpected inflation data.
FCX is negatively impacted by the US dollar's strength, which generally leads to a decrease in precious metals prices and demand.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
GFI's stock trades lower as the US dollar strengthens, following unexpected inflation data.
GFI, being in the precious metals sector, is directly affected by the US dollar's rise, which inversely affects precious metals prices.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
GOLD's stock price declines as the US dollar appreciates, driven by higher-than-expected inflation figures.
GOLD is impacted by the US dollar's strength, which typically decreases demand for precious metals, leading to lower stock prices.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
HL's stock is trading lower in response to the US dollar's rise, influenced by unexpected inflation data.
HL, as a precious metals stock, is adversely affected by the US dollar's rise, which typically leads to decreased demand for precious metals.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
HMY's stock price falls amid a strengthening US dollar, a consequence of higher-than-expected inflation.
HMY, a precious metals stock, is negatively impacted by the US dollar's rise, which inversely affects precious metals prices.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
NEM's stock trades lower as the US dollar strengthens, following unexpected inflation data.
NEM, being in the precious metals sector, is directly affected by the US dollar's rise, which inversely affects precious metals prices.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
PAAS's stock price declines as the US dollar appreciates, driven by higher-than-expected inflation figures.
PAAS is impacted by the US dollar's strength, which typically decreases demand for precious metals, leading to lower stock prices.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
SAND's stock is trading lower in response to the US dollar's rise, influenced by unexpected inflation data.
SAND, as a precious metals stock, is adversely affected by the US dollar's rise, which typically leads to decreased demand for precious metals.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
WPM sees its stock price fall in response to the US dollar's gain, influenced by unexpected inflation data.
WPM is negatively impacted by the US dollar's strength, which generally leads to a decrease in precious metals prices and demand.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80