Gold and silver are trading higher for the session despite a pullback early Monday. Iran's attack on Israel this weekend has lifted some safe-have assets.
Portfolio Pulse from Benzinga Newsdesk
Gold and silver prices have increased in the current trading session, despite an initial decline early Monday. This rise is attributed to Iran's recent attack on Israel, which has boosted the appeal of safe-haven assets like gold and silver.
April 15, 2024 | 2:56 pm
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POSITIVE IMPACT
The SPDR Gold Shares ETF (GLD) is likely to see a short-term increase in its price due to the heightened demand for gold as a safe-haven asset following Iran's attack on Israel.
The increase in gold prices typically leads to a corresponding rise in GLD's price, as the ETF is a direct investment in physical gold. The geopolitical tension has enhanced gold's appeal, making GLD a more attractive investment in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
The iShares Silver Trust ETF (SLV) is expected to experience a short-term rise in its price due to the increased demand for silver as a safe-haven asset, following the recent geopolitical tensions.
Silver's price increase, driven by its status as a safe-haven asset amid geopolitical tensions, directly impacts SLV's price. As investors seek safety in silver, SLV's value is likely to climb, reflecting the metal's increased demand.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 90