Shares of precious metals stocks are trading lower as gold and silver fall after hotter-than-expected March inflation data.
Portfolio Pulse from Benzinga Newsdesk
Shares of precious metals stocks, including AG, GFI, and PAAS, are trading lower due to a decline in gold and silver prices following hotter-than-expected March inflation data.
April 10, 2024 | 1:30 pm
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NEGATIVE IMPACT
Shares of AG are trading lower as a result of the decline in gold and silver prices, influenced by the hotter-than-expected March inflation data.
AG, being a precious metals stock, is directly impacted by the prices of gold and silver. The hotter-than-expected inflation data likely increased expectations for tighter monetary policy, which in turn has a negative impact on gold and silver prices, thus affecting AG's stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Shares of GFI are trading lower due to the decrease in gold and silver prices following the release of hotter-than-expected March inflation data.
GFI's stock price is negatively impacted by the fall in gold and silver prices, which is a direct consequence of the hotter-than-expected March inflation data. This data likely leads to expectations of tighter monetary policy, negatively affecting precious metals prices and thus GFI's stock.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
PAAS shares are trading lower as gold and silver prices decline in response to hotter-than-expected March inflation data.
PAAS, as a precious metals stock, is adversely affected by the decline in gold and silver prices, which is triggered by the hotter-than-expected March inflation data. This data likely raises expectations for tighter monetary policy, which is negative for gold and silver prices, and consequently, PAAS's stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80