Gold is trading higher. Catalysts may include Middle East uncertainty following the death of Iranian President Raisi and continued momentum amid US Fed policy outlook and recent buying from China this year.
Portfolio Pulse from Benzinga Newsdesk
Gold prices are rising due to Middle East uncertainty following the death of Iranian President Raisi, US Fed policy outlook, and recent buying from China.
May 20, 2024 | 11:58 am
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Gold prices are increasing due to geopolitical tensions in the Middle East, US Fed policy outlook, and increased buying from China, which positively impacts GLD.
The death of Iranian President Raisi has created geopolitical uncertainty, which typically drives investors to safe-haven assets like gold. Additionally, the US Fed policy outlook and increased gold purchases by China are contributing to higher gold prices, benefiting GLD.
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