Gold and silver are trading higher following April CPI data, which showed softer-than-expected month-over-month inflation.
Portfolio Pulse from Benzinga Newsdesk
Gold and silver prices are rising after April CPI data revealed lower-than-expected month-over-month inflation.
May 15, 2024 | 12:36 pm
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POSITIVE IMPACT
The SPDR Gold Shares ETF (GLD) is likely to see a positive impact as gold prices rise following softer-than-expected inflation data.
Gold prices typically rise when inflation is lower than expected, as it increases the appeal of gold as a hedge against inflation. This will likely drive up the price of GLD.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
The iShares Silver Trust ETF (SLV) is expected to benefit from the rise in silver prices following the release of softer-than-expected inflation data.
Silver prices often move in tandem with gold, especially in response to inflation data. The lower-than-expected inflation figures are likely to boost SLV.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100