Gold and silver are trading lower amid a possible easing of Middle East tensions.
Portfolio Pulse from Benzinga Newsdesk
Gold and silver prices are declining due to potential reductions in Middle East tensions, impacting related ETFs.
April 22, 2024 | 2:47 pm
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NEGATIVE IMPACT
Gold ETF (GLD) is trading lower amid possible easing of Middle East tensions.
Gold often acts as a safe-haven asset during geopolitical tensions. A potential easing of such tensions in the Middle East reduces the demand for safe-haven assets like gold, leading to a decrease in the price of gold and related ETFs such as GLD.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 90
NEGATIVE IMPACT
Silver ETF (SLV) is trading lower amid possible easing of Middle East tensions.
Similar to gold, silver and its related ETFs like SLV often see increased demand during times of geopolitical uncertainty. The possible easing of tensions in the Middle East decreases the demand for silver as a safe-haven asset, thus reducing its price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 90