Gold is trading higher amid hopes of US rate cuts.
Portfolio Pulse from Benzinga Newsdesk
Gold prices have risen due to expectations of upcoming US interest rate cuts.
March 07, 2024 | 8:23 pm
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GLD, a gold-backed ETF, is likely to see its price increase in the short term due to rising gold prices.
GLD's price is directly tied to the price of gold. As gold prices increase, GLD is expected to follow suit, especially amid market expectations of US interest rate cuts which typically boost gold's appeal as a non-yielding asset.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90