Gold and silver are trading higher ahead of Wednesday's CPI report.
Portfolio Pulse from Benzinga Newsdesk
Gold and silver prices are on the rise as investors anticipate the upcoming Consumer Price Index (CPI) report on Wednesday. This anticipation suggests that investors are looking towards precious metals as a hedge against potential inflation indicated by the CPI report.

April 09, 2024 | 6:40 pm
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POSITIVE IMPACT
The SPDR Gold Trust ETF (GLD) is likely to experience a short-term increase in price as investors turn to gold as a hedge against potential inflation ahead of the CPI report.
The anticipation of the CPI report typically increases investor interest in gold as a hedge against inflation. Given GLD's direct correlation with gold prices, an uptick in gold prices ahead of the CPI report is likely to positively impact GLD's price in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
The iShares Silver Trust (SLV) is expected to see a short-term rise in price as investors also consider silver a viable hedge against potential inflation, in light of the upcoming CPI report.
Similar to gold, silver often serves as an inflation hedge. With the CPI report approaching, investor interest in silver, and consequently in SLV, is expected to increase, potentially driving up its price in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 90