Gold is trading lower amid a rise in the US dollar ahead of this week's Fed decision.
Portfolio Pulse from Benzinga Newsdesk
Gold prices are declining as the US dollar strengthens, with investors closely watching the upcoming Federal Reserve decision.
March 19, 2024 | 3:19 pm
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NEGATIVE IMPACT
The SPDR Gold Trust ETF (GLD) is likely to experience a short-term decrease in value due to the falling gold prices.
GLD, which tracks the price of gold, is directly impacted by fluctuations in gold prices. The current decrease in gold prices, driven by a stronger US dollar and anticipation of the Fed's decision, suggests a negative short-term impact on GLD's value.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 90