Gold is trading higher amid buying out of China.
Portfolio Pulse from Benzinga Newsdesk
Gold prices are experiencing an increase due to heightened purchasing activity from China.
May 06, 2024 | 1:27 pm
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POSITIVE IMPACT
The SPDR Gold Trust ETF (GLD) is likely to see a positive impact due to the increase in gold prices driven by demand from China.
As GLD is a gold-backed ETF, its value directly correlates with the price of gold. The reported increase in gold buying from China suggests a higher demand for gold, which in turn is likely to drive up the price of gold and, consequently, the value of GLD.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 90